Azerbaijani oil price elevates

The price of Azerbaijan's Azeri Light crude at Italy's Augusta port, on a CIF basis, grew by $0.39, or 0.57 percent, on September 9 from the previous level to $68.7 per barrel, a source in the oil market told Olaylar.

At Türkiye's Ceyhan port, the FOB price of Azeri Light crude also went up by $0.39, or 0.58 percent, to $67.23 per barrel.

The price of URALS crude rose by $0.5, or 0.9 percent, to $55.84 per barrel, while Brent Dated crude from the North Sea saw an increase of $0.28, or 0.42 percent, to $66.7 per barrel.

Azerbaijan's 2025 state budget is based on an average oil price of $70 per barrel.