BAKU, Azerbaijan, March 1. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta decreased on February 28 by $0.53 (0.7 percent) compared to the previous rate, now sitting at $75.71 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 down by $0.56 (0.7 percent) to $74.44 per barrel.
The price of URALS crude lowered by $0.03 (0.05 percent) from the previous rate, amounting to $58.89 per barrel.
North Sea benchmark crude, Dated Brent, was $0.52 (0.7 percent) less than the previous rate, standing at $73.48 per barrel
The official exchange rate for March 1 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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