Azerbaijani Oil Slides Down In Valuation

2025-03-19 02:07:47

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 19. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 18 decreased by $0.52 (0.7 percent) compared to the previous rate, now sitting at $72.9 per barrel, Trend reports, citing a source in the country's oil and gas market.

On an FOB basis in the Turkish port of Ceyhan, the price of Azeri Light also went down by $0.51 (0.7 percent) to $71.56 per barrel.

The price of URALS crude dipped by $0.45 (0.79 percent) from the previous rate, amounting to $56.51 per barrel.

North Sea benchmark crude, Dated Brent, was $0.53 (0.73 percent) less than the previous rate, at $71.73 per barrel.

The official exchange rate as of March 19 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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