The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on March 18 decreased by $0.52 (0.7 percent) compared to the previous rate, now sitting at $72.9 per barrel, AzVision.az reports, citing a source in the country's oil and gas market.
On an FOB basis in the Turkish port of Ceyhan, the price of Azeri Light also went down by $0.51 (0.7 percent) to $71.56 per barrel.
The price of URALS crude dipped by $0.45 (0.79 percent) from the previous rate, amounting to $56.51 per barrel.
North Sea benchmark crude, Dated Brent, was $0.53 (0.73 percent) less than the previous rate, at $71.73 per barrel.
The official exchange rate as of March 19 is 1.7 AZN/1 USD. The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.
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