A change of USD 1 in the oil export price could affect the revenues of the State Oil Fund of Azerbaijan (SOFAZ) by approximately USD 100 million, APA-Economics reports.
This is stated in the opinion of the Chamber of Accounts on SOFAZ’s 2026 budget.
It is noted that, amid expectations that international financial institutions’ forecasts for Brent crude oil prices in 2026 will generally range between USD 60–65, SOFAZ has prepared the base scenario of its 2026 budget based on a price assumption of USD 65.
As one of the key indicators in the formation of the Fund’s revenues, the average annual export price of one barrel of oil for 2026 has been set at USD 65. Every USD 5 change in the average annual export price of one barrel of oil leads to an approximately USD 0.5 billion change in the Fund’s revenues, which corresponds to an impact of USD 100 million per USD 1.
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