The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 13 increased by $1.09 (1.62 percent) compared to the previous rate, now sitting at $68.22 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 went up by $1.14 (1.73 percent) to $66.93 per barrel.
Meanwhile, the price of URALS crude grew by $1.09 (2.08 percent) from the previous rate, amounting to $53.47 per barrel.
North Sea benchmark crude, Dated Brent, rose by $1.01 (1.55 percent) in price from the previous rate and reached $66.08 per barrel
The official exchange rate as of May 14 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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