BAKU, Azerbaijan, May 16. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, grew by $2.93, or 2.58%, on May 15 from the previous level, coming in at $116.41 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 up by $2.96, or 2.67%, to $113.94 per barrel.
The price of URALS crude increased by $2.82, or 3.15%, to $92.37 per barrel, while Brent Dated crude from the North Sea rose by $2.61, or 2.38%, to $112.20 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
