BAKU, Azerbaijan, May 14. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $0.41, or 0.35%, on May 13 from the previous level, coming in at $115.52 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 $0.31, or 0.27%, to $112.99 per barrel.
The price of URALS crude declined by $0.29, or 0.32%, to $91.44 per barrel, while Brent Dated crude from the North Sea dipped by $0.37, or 0.33%, to $111.20 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
