The price of Azerbaijan's Azeri Light crude oil on a CIF basis at Italy's Augusta port decreased by $4.36, or 4.56%, from the previous session to $91.22 per barrel, a source in the oil market told Trend about this. The price of URALS crude went down by $3.24, or 5.66%, from the previous session to $54.02 per barrel. Azerbaijan's 2026 state budget is based on an average oil price of $65 per barrel. According to the American Petroleum Institute (API), published in the U.S., crude oil reserves in the country decreased by 3.3 million barrels last week. This indicates that the supply in the global oil market remains limited," the report said.