BAKU, Azerbaijan, May 15. The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF (Cost, Insurance, and Freight) basis, decreased by $2.04, or 1.77%, on May 14 from the previous level, coming in at $113.48 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 $2.01, or 1.78%, to $110.98 per barrel.
The price of URALS crude declined by $1.89, or 2.07%, to $89.55 per barrel, while Brent Dated crude from the North Sea dropped by $1.61, or 1.45%, to $109.59 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.
