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Azerbaijani Oil Price Experiences Downturn
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 17. The price of
Azerbaijan's Azeri Light crude oil on a CIF basis in the Italian
port of Augusta on June 16 decreased by $1.85 (2.38 percent)
compared to the previous rate, now sitting at $75.79 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 $1.93 (2.53 percent) to $74.46 per barrel.
In the interim, the valuation of URALS crude experienced a
decline of $1.98 (3.19 percent) relative to the antecedent rate,
culminating in a price point of $60.01 per barrel.
The North Sea benchmark crude, specifically Dated Brent, decreased
by $1.56, or 2.07 percent from the preceding valuation, culminating
in a settlement price of $73.63 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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