The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta on May 27 decreased by $1.29 (1.9 percent) compared to the previous rate, now sitting at $66.43 per barrel.

Axar.az reports, citing a source in the country's oil and gas market.

On an FOB basis in the Turkish port of Ceyhan, the price of Azeri Light went down by $1.25 (1.88 percent) to $65.15 per barrel.

Meanwhile, the price of URALS crude declined by $1.29 (2.46 percent) from the previous rate, amounting to $51.1 per barrel.

North Sea benchmark crude, Dated Brent, decreased by $1.32 (2.01 percent) in price from the previous rate and reached $64.26 per barrel.

The average price of a barrel of oil in the state budget of Azerbaijan for 2025 is estimated at $70.