BAKU, Azerbaijan, May 30. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $2.56, or 2.5%, on May 29 from the previous level, coming in at $98.01 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 $2.49, or 2.5%, to $95.89 per barrel.
The price of URALS crude decreased by $3.09, or 4.2%, to $70.78 per barrel, while Brent Dated crude from the North Sea dipped by $3.24, or 3.3%, to $93.56 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
