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Weekly review of Azerbaijani oil prices

Oil&Gas Materials 16 May 2022 11:39
Weekly review of Azerbaijani oil prices
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, May 16. Oil prices fell last week, Trend reports.

During the reporting period, the average price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by $2.21 (1.92 percent) compared to the previous week and reached $112.85 per barrel. The maximum price for Azeri LT CIF Augusta was $117.25 per barrel in the reporting period, the minimum was $108.77.

Last week, the average price of Azeri LT FOB Ceyhan amounted to $111.65 per barrel, which is $2.18 (1.91 percent) more than the week before last. The maximum price for Azeri LT FOB Ceyhan was $116.08 per barrel in the reporting period, the minimum was $107.55.

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.

The average price of URALS oil decreased by $2.62 (3.54 percent) last week compared to the week before last and amounted to $71.23 per barrel. The maximum price for URALS was $74.75 per barrel, the minimum was $67.6.

Meanwhile, the average price for the reference grade of Brent Dated oil decreased by 2.57 percent (or $2.84) as a result of last week, to $107.63 per barrel. The maximum price for Brent was $111.35 per barrel, the minimum was $103.87 per barrel.

Oil grade/Date

09.05.22

10.05.22

11.05.22

12.05.22

13.05.22

Average price

Azeri LT CIF

$111.55

$108.77

$112.73

$113.98

$117.25

$112.85

Azeri Light FOB Ceyhan

$110.33

$107.55

$111.52

$112.79

$116.08

$111.65

Urals (EX NOVO)

$70.40

$67.60

$71.19

$72.22

$74.75

$71.23

Brent Dated

$106.74

$103.87

$107.48

$108.70

$111.35

$107.63

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