BAKU, Azerbaijan, May 21. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $4.98, or 4.25%, on May 20 from the previous level, coming in at $112.32 per barrel, a source in the oil market told Trend.
At Türkiye’s Ceyhan port, the FOB (Free on Board) price of Azeri Light crude went down by $4.93, or 4.29%, to $109.97 per barrel.
The price of URALS crude decreased by $5.4, or 5.78%, to $88.03 per barrel, while Brent Dated crude from the North Sea dipped by $4.85, or 4.23%, to $109.83 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
