BAKU, Azerbaijan, March 6. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta decreased on March 5 by $1.95 (2.65 percent) compared to the previous rate, now sitting at $71.4 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 dropped by $1.96 (2.72 percent) to $70.12 per barrel.
The price of URALS crude lowered by $1.96 (3.47 percent) from the previous rate, amounting to $54.47 per barrel.
North Sea benchmark crude, Dated Brent, was $1.96 (0.6 percent) more than the previous rate, at $69.83 per barrel.
The official exchange rate as of March 6 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.