Azerbaijani Oil Shows Minor Growth In Value

2025-03-12 02:07:18

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 12. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 11 grew by $0.11 (0.15 percent) compared to the previous rate, now sitting at $72.92 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 up by $0.1 (0.14 percent) to $71.69 per barrel.

The price of URALS crude rose by $0.11 (0.2 percent) from the previous rate, amounting to $55.8 per barrel.

North Sea benchmark crude, Dated Brent, was also $0.11 (0.15 percent) more than the previous rate, standing at $71.15 per barrel

The official exchange rate as of March 11 is 1.7 AZN/1 USD. The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.

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