BAKU, Azerbaijan, May 7. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 6 increased by $1.31 (2.06 percent) compared to the previous rate, now sitting at $64.94 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 $1.37 (2.21 percent) to $63.34 per barrel.
Meanwhile, the price of URALS crude grew by $1.32 (2.71 percent) from the previous rate, amounting to $49.97 per barrel.
North Sea benchmark crude, Dated Brent, rose by $1.33 (2.17 percent) in price from the previous rate and reached $62.74 per barrel
The official exchange rate as of May 7 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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