Price of Azerbaijani Oil Takes Nosedive

The price of Azerbaijan’s Azeri Light crude oil on a CIF basis in the Italian port of Augusta decreased by 91 cents on January 8 compared to the previous rate, landing on $78.72 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 lowered by 83 cents to $77.63 per barrel.

The price of URALS crude went down by 85 cents compared to the previous price and amounted to $64.66 per barrel.

Simultaneously, the valuation of the North Sea benchmark crude, specifically Dated Brent, experienced a decrement of 65 cents relative to the preceding rate, now positioned at $77.24 per barrel.

The official exchange rate for January 9 is 1.7 AZN/USD.