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Azerbaijani oil price hikes

Economy Materials 12 February 2025 09:43 (UTC +04:00)
Azerbaijani oil price hikes
Evez Hasanov
Evez Hasanov
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BAKU, Azerbaijan, February 12. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta increased by $1.11 (1.42 percent) on February 11 compared to the previous rate, standing at $78.98 per barrel, Trend 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 went up by $1.03 (1.34 percent) to $77.54 per barrel.

The price of URALS crude grew by $0.96 (1.57 percent) from the previous rate, amounting to $62 per barrel.

The price of North Sea benchmark crude, Dated Brent, rose by $0.9 (1.18 percent) compared to the previous rate, at $77.03 per barrel.

The official exchange rate for February 12 is 1.7 AZN/USD.

The average price of a barrel of oil in Azerbaijan's state budget for 2025 is calculated at $70.

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