BAKU, Azerbaijan, March 11. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 11 declined by $1.04 (1.4 percent) compared to the previous rate, now sitting at $72.81 per barrel, TurkicWorld reports, citing a source in the country's oil and gas market.
On a FOB basis in the Turkish port of Ceyhan, the price of Azeri Light went down by $0.99 (1.36 percent) to $72.58 per barrel.
The price of URALS crude fell by $1.05 (1.85 percent) from the previous rate, amounting to $55.69 per barrel.
North Sea benchmark crude, Dated Brent, was $1.03 (1.43 percent) less than the previous rate, at $71.04 per barrel.
The official exchange rate as of March 11 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.
