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Value Of Azerbaijani Oil Gently Flows Downward
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, May 31. The price of
Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian
port of Augusta on May 31 declined by $0.86 (1.28 percent) compared
to the previous rate, now sitting at $66.29 per barrel, Trend reports, citing a
source in the country's oil and gas market.
On an FOB basis in the Turkish Ceyhan port, the price of Azeri Light went down by $0.83 (1.26 percent) to $65.09 per barrel.
Meanwhile, the price of URALS crude dipped by $0.61 (1.17 percent) from the previous rate, amounting to $51.29 per barrel.
North Sea benchmark crude, Dated Brent, decreased by $0.87 (1.34 percent) in price from the previous rate, settling at $63.83 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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