Azerbaijan’s benchmark Azeri Light crude fell to $116.26 a barrel in a quotation published October 17, marking a third consecutive decline and taking its cumulative three-day loss to about 9.1%.
The latest CIF price was $2.78, or approximately 2.34%, below the previous quotation of $119.04 a barrel, according to Report.az and APA-Economics.
Azeri Light had previously fallen from $127.87 to $124.14 and then to $119.04. The latest move brought the total decline from the starting quotation to $11.61 a barrel, equal to roughly 9.1%.
FOB Price Falls to $105.42
Report.az separately put Azeri Light’s FOB price at Türkiye’s Ceyhan port at $105.42 a barrel, down $3.07, or 2.83%.
The CIF and FOB figures reflect different delivery terms and should not be combined into a single price series. The three-day decline is calculated from the sequence of CIF quotations.
Still $51.26 Above Budget Benchmark
The October 17 CIF price remained $51.26 above the $65-per-barrel average oil price assumed in Azerbaijan’s 2026 state budget.
That difference does not translate directly into additional budget revenue. Government receipts depend on average realized prices over a longer period, export volumes, production levels and the state’s share of oil income rather than a single daily quotation.
Source: Vesti Baku.