Azerbaijani Oil Price Surges

2025-05-15 02:04:57

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 15. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 15 increased by $0.13 (0.19 percent) compared to the previous rate, now sitting at $68.35 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 $0.12 (0.18 percent) to $67.05 per barrel.

Meanwhile, the price of URALS crude declined by $0.18 (0.34 percent) from the previous rate, amounting to $53.29 per barrel.

North Sea benchmark crude, Dated Brent, fell by $0.14 (0.21 percent) in price from the previous rate and reached $65.94 per barrel.

The official exchange rate as of May 15 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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