Azerbaijani Oil Slumps In Price

2025-05-02 02:05:23

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 2. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 1 decreased by $1.37 (2.1 percent) compared to the previous rate, now sitting at $63.76 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 $1.34 (2.11 percent) to $62.06 per barrel.

Meanwhile, the price of URALS crude decreased by $1.36 (2.71 percent) from the previous rate, amounting to $48.78 per barrel.

North Sea benchmark crude, Dated Brent, dipped by $1.74 (2.75 percent) in price from the previous rate and reached $61.54 per barrel

The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.

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