Azerbaijani Oil Tumbles In Price

2025-03-26 05:08:45

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 26. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 26 fell by $0.23 (0.3 percent) compared to the previous rate, now sitting at $75 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 went down by $0.4 (0.54 percent) to $73.39 per barrel.

The price of URALS crude declined by $0.28 (0.47 percent) from the previous rate, amounting to $58.59 per barrel.

North Sea benchmark crude, Dated Brent, was $0.31 (0.42 percent) less than the previous rate, at $73.62 per barrel.

The official exchange rate as of March 26 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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