BAKU, Azerbaijan, May 29. The price of
Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF
(Cost, Insurance, and Freight) basis, decreased by $1.73, or 1.17%,
on May 28 from the previous level, coming in at $100.57 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 $1.69, or 1.7%, to $98.38 per barrel.
The price of URALS crude decreased by $2.39, or 3.1%, to $73.87
per barrel, while Brent Dated crude from the North Sea dipped by
$2.79, or 2.8%, to $96.80 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price
of $65 per barrel.
