Azerbaijani Oil Shows Surge In Price

2025-05-17 03:05:33

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 17. The price of Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 15 increased by $0.49 (0.74 percent) compared to the previous rate, now sitting at $67.14 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 $0.46 (0.70 percent) to $65.86 per barrel.

Meanwhile, the price of URALS crude increased by $0.96 (1.87 percent) from the previous rate, amounting to $52.31 per barrel.

North Sea benchmark crude, Dated Brent, rose by $1.06 (1.66 percent) in price from the previous rate and reached $65.10 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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