Azerbaijani Oil Price Moves Down

2025-02-08 03:12:21

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 8. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta took a bit of a tumble on February 7, dropping by $0.5 (0.65 percent) compared to the previous rate, now sitting at $76.42 per barrel, Trend reports, citing a source in the country's oil and gas market.

On a FOB basis in the Turkish port of Ceyhan, the price of Azeri Light went down by $0.54 (0.71 percent) to $75.12 per barrel.

The price of URALS crude lowered by $0.51 (0.84 percent) from the previous rate, amounting to $59.68 per barrel.

The price of North Sea benchmark crude, Dated Brent, was $0.5 (0.66 percent) less than the previous rate, standing at $74.53 per barrel.

The official exchange rate for February 8 is 1.7 AZN/USD.

In the state budget of Azerbaijan for 2025, the average price of one barrel of oil was calculated at $70.

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