BAKU, Azerbaijan, December 17. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF basis, went down by $1.28, or 2%, on December 16 from the previous level, coming in at $62.45 per barrel, a source in the oil market told Trend.
At Türkiye’s Ceyhan port, the FOB price of Azeri Light crude decreased by $1.27, or 2.1%, to $60.4 per barrel.
The price of URALS crude dropped by $1.86, or 5.6%, to $33.25 per barrel, while Brent Dated crude from the North Sea declined by $1.2, or 2%, to $60.2 per barrel.
Azerbaijan’s 2025 state budget is based on an average oil price of $70 per barrel.