BAKU, Azerbaijan, May 21. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 20 decreased by $0.45 (0.67 percent) compared to the previous rate, now sitting at $67.17 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 down by $0.49 (0.74 percent) to $65.87 per barrel.
Meanwhile, the price of URALS crude dipped by $0.47 (0.89 percent) from the previous rate, amounting to $52.42 per barrel.
North Sea benchmark crude, Dated Brent, decreased by $0.39 (0.59 percent) in price from the previous rate and reached $65.61 per barrel.
The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.
