BAKU, Azerbaijan, May 28. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $4.18, or 3.93%, on May 27 from the previous level, coming in at $102.3 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 $4.15, or 3.98%, to $100.07 per barrel.
The price of URALS crude decreased by $4.74, or 5.85%, to $76.26 per barrel, while Brent Dated crude from the North Sea dropped by $4.19, or 4.04%, to $99.59 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
