Azerbaijani Oil Price Skyrockets

2025-03-25 03:12:10

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 25. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 24 grew by $1.19 (1.6 percent) compared to the previous rate, now sitting at $75.23 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 $1.18 (1.62 percent) to $73.79 per barrel.

The price of URALS crude rose by $1.1 (1.9 percent) from the previous rate, amounting to $58.87 per barrel.

North Sea benchmark crude, Dated Brent, was $1.38 (1.9 percent) more than the previous rate, at $73.93 per barrel.

The official exchange rate as of March 25 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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