BAKU, Azerbaijan, May 29. The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 28 increased by $1.35 (2 percent) compared to the previous rate, now sitting at $67.78 per barrel, Trend reports, citing a source in the country's oil and gas market.
On an FOB basis in the Turkish Ceyhan port, the price of Azeri Light went up by $1.38 (2.1 percent) to $66.53 per barrel.
Meanwhile, the price of URALS crude rose by $1.36 (2.7 percent) from the previous rate, amounting to $52.46 per barrel.
North Sea benchmark crude, Dated Brent, grew by $1.25 (1.9 percent) in price from the previous rate and reached $65.51 per barrel.
The official exchange rate as of May 29 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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