BAKU, Azerbaijan, May 20. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 19 increased by $0.48 (0.71 percent) compared to the previous rate, now sitting at $67.62 per barrel, Trend 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 $0.5 (0.76 percent) to $66.36 per barrel.
Meanwhile, the price of URALS crude increased by $0.58 (1.11 percent) from the previous rate, amounting to $52.89 per barrel.
North Sea benchmark crude, Dated Brent, rose by $0.9 (1.38 percent) in price from the previous rate and reached $66 per barrel.
The official exchange rate as of May 20 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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