Azerbaijani Oil Prices See Notable Rise

2025-03-27 05:09:18

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 27. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 27 rose by $1.29 (1.72 percent) compared to the previous rate, now sitting at $76.29 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 up by $1.03 (1.40 percent) to $74.42 per barrel.

The price of URALS crude increased by $1.27 (2.16 percent) from the previous rate, amounting to $59.86 per barrel.

North Sea benchmark crude, Dated Brent, was $1.26 (1.71 percent) more than the previous rate, at $74.88 per barrel.

The official exchange rate as of March 27 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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