Valuation Of Azerbaijani Oil Experiences Downward Trajectory

2025-08-02 05:08:29

(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 2. The price of Azerbaijan's Azeri Light crude oil on a CIF basis at Italy's Augusta port declined by $1.33, or 1.83 percent, to $71.37 per barrel on August 2, a source in the oil market told Trend .

At Türkiye's Ceyhan port, the price of Azeri Light on an FOB basis decreased by $1.35, or 1.89 percent, to $69.95 per barrel.

Meanwhile, the price of URALS crude went down by $1.33, or 2.19 percent, to $59.52 per barrel.

Brent Dated crude, produced in the North Sea, saw a decrease of $1.31, or 1.80 percent, bringing the price down to $71.39 per barrel.

The fiscal framework for Azerbaijan's 2025 state budget is predicated on a benchmark crude oil valuation of $70 per barrel.

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