Azernews.Az

Qabil Ashirov

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The price of Azerbaijan’s flagship crude oil brand, Azeri Light, has recorded a slight increase in international markets, Azernews reports.

At Italy’s Augusta port, the price of Azeri Light crude on a CIF basis rose by $0.15, or 0.23 percent, reaching $64.26 per barrel. Meanwhile, at Türkiye’s Ceyhan port, the same crude grade traded on an FOB basis increased by $0.11, or 0.18 percent, to $62.55 per barrel.

The price of URALS crude, a benchmark for Russian oil, also edged upward—gaining $0.17, or 0.34 percent, to stand at $50.41 per barrel. Similarly, Dated Brent, extracted from the North Sea and considered a global reference grade, rose by $0.03, or 0.05 percent, reaching $62.61 per barrel.

According to Azerbaijan’s 2025 state budget, the average price of oil has been projected at $70 per barrel, reflecting a conservative fiscal approach and the government’s effort to shield the economy from potential price volatility.