Azeri Light crude oil prices fall

The price of Azerbaijan’s Azeri Light crude oil at Italy’s Augusta port fell by $0.61, or 0.92 percent, compared to the previous figure, settling at $65.82 per barrel (CIF basis), Azernews reports.

At Turkiye’s Ceyhan port, the price of Azeri Light crude on an FOB basis also declined by $0.61, or 0.95 percent, to $63.79 per barrel.

Meanwhile, the price of Urals crude decreased by $0.64, or 1.21 percent, to $52.41 per barrel.

In the North Sea, Dated Brent crude fell by $0.76, or 1.15 percent, to $65.26 per barrel.

For reference, Azerbaijan’s state budget for 2025 is based on an average oil price of $70 per barrel.