Azerbaijan oil shows steep rise in price

BAKU, Azerbaijan, March 8. The price of
Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian
port of Augusta grew on March 8 by $1.89 (2.62 percent) compared to
the previous rate, now sitting at $73.85 per barrel, Trend reports, citing a
source in the country’s oil and gas market.

On a FOB basis in the Turkish port of Ceyhan, the price of Azeri
Light went up by $1.87 (2.64 percent) to $72.58 per barrel.

The price of URALS crude rose by $1.8 (3.27 percent) from the
previous rate, amounting to $56.74 per barrel.

North Sea benchmark crude, Dated Brent, was $1.76 (2.5 percent)
more than the previous rate, at $72.07 per barrel.

The official exchange rate as of March 8 is 1.7 AZN/1 USD. The
average price of a barrel of oil in the state budget of Azerbaijan
for 2025 is estimated at $ 70.

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