BAKU, Azerbaijan, May 9. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 8 increased by $1.33 (2.1 percent) compared to the previous rate, now sitting at $64.58 per barrel, TurkicWorld reports, citing a source in the country's oil and gas market.
On an FOB basis in the Turkish port of Ceyhan, the price of Azeri Light went up by $1.37 (2.22 percent) to $63.07 per barrel.
Meanwhile, the price of URALS crude grew by $1.34 (2.76 percent) from the previous rate, amounting to $49.97 per barrel.
North Sea benchmark crude, Dated Brent, rose by $1.23 (2.01 percent) in price from the previous rate and reached $62.32 per barrel
The official exchange rate as of May 9 is 1.7 AZN/1 USD.
The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.
