Azerbaijan sees rising oil prices and major agricultural investment plans

Azerbaijan is seeing significant shifts in both its energy and agricultural sectors. The price of Azeri Light crude oil has risen sharply, exceeding $133 per barrel at the Italian port of Augusta and $122 per barrel at the Turkish port of Ceyhan. This upward trend follows market volatility linked to geopolitical tensions in the Middle East and potential US military strike options regarding Iran.

In the agricultural sector, Azerbaijan is targeting approximately $3.53 billion in public and private investment for the 2026–2030 period to boost production and processing. Experts at the 3rd International Agro Business Forum noted that Azerbaijan’s agricultural export potential could surpass $10 billion as infrastructure improves. The country is also positioning itself as a central hub for trade among Turkic states to enhance regional food security.

To support these goals, the government has implemented export subsidies to stimulate non-oil and gas trade. Since September 1, the state has been covering up to 70% of transportation costs for certain non-oil goods to increase the competitiveness of local products in international markets.