Azerbaijan’s budget oil price set at $65 for 2027

BAKU, Azerbaijan, September 16. The price of
one barrel of Azeri Light crude oil was set at $65 when preparing
the draft consolidated and state budgets of Azerbaijan for
2027.

This is reflected in the Statement on the Initial Indicators of
the State and Consolidated Budgets for 2027 released by
Azerbaijan’s Ministry of Finance.

The figure is the same as for 2026.

“The state budget revenues in 2027 are projected at 27.8% of
GDP, or 39.2 billion manat ($23.05 billion), based on an average
annual selling price of crude oil of $65 per barrel. Of this
amount, 39.5%, or 15.5 billion manat ($9.1 billion), will account
for the oil and gas sector, while 60.5%, or 23.7 billion manat
($13.9 billion), will account for the non-oil and gas sector,” the
statement said.

Will be updated