11:28 - 18.09.2024

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September 18, Fineko/abc.az. When preparing the draft consolidated and state budgets of Azerbaijan for 2025, the price for 1 barrel of Azeri Light oil is set at $70.

ABC.AZ reports that the indicator is $5 less against 2024.

According to Economy Ministry’s forecasts presented in August 2024, in the baseline scenario, the average annual export price of one barrel of oil for 2026-2028 is envisaged at $65.

In 2024, the price of oil was initially budgeted at $60, but subsequently, as part of budget changes, this price was raised to $75.

Although at that time (in May) this price seemed safe, and in recent weeks oil prices on the world market have plummeted to $75-$76. A few days ago, the price of Azerbaijani oil dropped to $73 - below the budget threshold.