The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta decreased on March 4 by $2.33 (three percent) compared to the previous rate, now sitting at $73.35 per barrel, AzVision.az reports, citing a source in the country's oil and gas market.
On a FOB basis in the Turkish port of Ceyhan, the price of Azeri Light dropped by $2.35 (3.16 percent) to $72.08 per barrel.
The price of URALS crude lowered by $2.33 (four percent) from the previous rate, amounting to $56.43 per barrel.
North Sea benchmark crude, Dated Brent, was $2.13 (2.88 percent) less than the previous rate, standing at $71.79 per barrel.
The official exchange rate for March 5 is 1.7 AZN/USD.
In the state budget of Azerbaijan for 2025, the average price of one barrel of oil was calculated at $70.
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