BAKU, Azerbaijan, May 6. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $1.12, or 0.94%, on May 5 from the previous level, coming in at $118.56 per barrel, a source in the oil market told TurkicWorld.
At Türkiye’s Ceyhan port, the FOB (Free on Board) price of Azeri Light crude went down by $1.01, or 0.87%, to $115.45 per barrel.
The price of URALS crude declined by $1.23, or 1.29%, to $94.19 per barrel, while Brent Dated crude from the North Sea dipped by $2.96, or 2.51%, to $114.99 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
