Azerbaijani Oil Price Increases

2025-03-21 03:12:46

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 21. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 20 grew by $1.21 (1.7 percent) compared to the previous rate, now sitting at $74.02 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 $1.04 (1.45 percent) to $72.6 per barrel.

The price of URALS crude rose by $1.14 (2.02 percent) from the previous rate, amounting to $57.58 per barrel.

North Sea benchmark crude, Dated Brent, was $1.02 (1.43 percent) more than the previous rate, at $72.54 per barrel.

The official exchange rate as of March 21 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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