Azerbaijani Oil Shows Surge In Price

2025-03-22 03:11:35

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 22. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 21 grew by $0.02 (0.03 percent) compared to the previous rate, now sitting at $74.04 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 $0.01 (0.01 percent) to $72.61 per barrel.

The price of URALS crude rose by $0.19 (0.33 percent) from the previous rate, amounting to $57.77 per barrel.

North Sea benchmark crude, Dated Brent, was $0.01 (0.01 percent) more than the previous rate, at $72.55 per barrel.

The official exchange rate as of March 22 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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