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Azerbaijani Oil Price Takes Nosedive
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 26. The price of
Azerbaijan's Azeri Light crude at Italy's Augusta port, on a CIF
basis, went down by $2.24, or 3.34 percent, on November 25 from the
previous level, coming in at $64.8 per barrel, a source in the oil
market told Trend.
At Türkiye's Ceyhan port, the FOB price of Azeri Light crude decreased by $2.28, or 3.51 percent, to $62.68 per barrel.
The price of URALS crude dipped by $1.86, or 3.98 percent, to $44.85 per barrel, while Brent Dated crude from the North Sea receded by $0.83, or 1.3 percent, to $62.84 per barrel.
Azerbaijan's 2025 state budget is based on an average oil price of $70 per barrel.
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