BAKU, Azerbaijan, May 27. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $3.57, or 3.24%, on May 26 from the previous level, coming in at $106.48 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 $3.51, or 3.26%, to $104.22 per barrel.
The price of URALS crude decreased by $4.05, or 4.76%, to $81 per barrel, while Brent Dated crude from the North Sea dipped by $3.45, or 3.22%, to $103.78 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
