BAKU, Azerbaijan, May 16. The price of
Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF
(Cost, Insurance, and Freight) basis, grew by $2.93, or 2.58%, on
May 15 from the previous level, coming in at $116.41 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 up by $2.96, or 2.67%, to $113.94 per barrel.
The price of URALS crude increased by $2.82, or 3.15%, to $92.37
per barrel, while Brent Dated crude from the North Sea rose by
$2.61, or 2.38%, to $112.20 per barrel.
Azerbaijan’s 2026 state budget is based on an average oil price
of $65 per barrel.