Baku: The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF basis, increased by $1.37, or 2.01 percent, on September 12 from the previous level to $69.49 per barrel, a source in the oil market told Trend.
According to Trend News Agency, at Trkiye’s Ceyhan port, the FOB price of Azeri Light crude went up by $1.34, or 2.01 percent, to $67.98 per barrel. The price of URALS crude rose by $1.41, or 2.55 percent, to $56.76 per barrel, while Brent Dated crude from the North Sea saw an increase of $1.44, or 2.17 percent, to $67.74 per barrel.
Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel.