Azeri Light crude oil prices fall on global market

The price of Azerbaijan’s Azeri Light crude oil at Italy’s Augusta port (CIF basis) fell by $0.34, or 0.55%, to $61.83 per barrel, compared to the previous rate.

At Turkiye’s Ceyhan port (FOB basis), Azeri Light also declined by $0.34, or 0.56%, settling at $59.91 per barrel.

Meanwhile, the price of Urals crude dropped by $0.37 (0.75%) to $48.70 per barrel, and Dated Brent, produced in the North Sea, decreased by $0.34 (0.56%) to $60.57 per barrel.

Azerbaijan’s 2025 state budget is based on an assumed average oil price of $70 per barrel.