Azerbaijani oil shows minor uptick in price

The price of Azerbaijan’s Azeri Light crude at Italy’s Augusta port, on a CIF basis, moved up by $0.93, or 1.33%, on February 6 from the previous level, coming in at $70.70 per barrel, a source in the oil market told Trend.

At Türkiye’s Ceyhan port, the FOB price of Azeri Light crude increased by $0.92, or 1.37%, to $68.19 per barrel.

The price of URALS crude went up by $1.03, or 2.62%, to $40.27 per barrel, and Brent Dated crude from the North Sea rose by $1.7, or 2.44%, to $71.40 per barrel.

Azerbaijan’s 2026 state budget is based on an average oil price of $65 per barrel.