Azeri Light oil price drops
The price of Azerbaijan’s Azeri Light crude oil at Italy’s Augusta port (CIF basis) declined by $0.23 (0.3%), settling at $76.06 per barrel, Azernews reports.
At Turkiye’s Ceyhan port (FOB basis), Azeri Light oil fell by $0.14 (0.25%), reaching $74.23 per barrel.
Meanwhile, Urals crude saw a $0.25 (0.41%) drop, bringing its price to $59.61 per barrel. Dated Brent, extracted from the North Sea, declined by $0.39 (0.52%), trading at $74.49 per barrel.
For 2025, Azerbaijan’s state budget is based on an average oil price of $70 per barrel.
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