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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 21 May 2022 11:03
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, May 21. Azerbaijani oil prices have risen this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $120.32 per barrel, having increased by $7.47 (6.62 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $123.18 per barrel, while the minimum price – was $118.42.

The average price of Azeri LT FOB Ceyhan totaled $119.23 per barrel this week, up by $7.58 (6.79 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $122.06 per barrel, while the minimum price was $117.34.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $76.32 per barrel this week, which was $5.09 (7.14 percent) more than in the previous week.

The maximum price for URALS oil amounted to $79.73 per barrel, while the minimum price – was $74.31.

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

The average price of Brent Dated made up $113.23 per barrel this week, thus increasing by $5.6 (5.2 percent).

The maximum price for Brent Dated amounted to $116.51 per barrel, while the minimum price – was $111.33.

Oil grade/date

May 16, 2022

May 17, 2022

May 18, 2022

May 19, 2022

May 20, 2022

Average price

Azeri LT CIF

$119.39

$123.18

$118.42

$118.99

$121.62

$120.32

Azeri Light FOB Ceyhan

$118.27

$122.06

$117.34

$117.93

$120.56

$119.23

Urals (EX NOVO)

$76.46

$79.73

$74.33

$74.31

$76.78

$76.32

Brent Dated

$113.14

$116.51

$111.33

$111.35

$113.82

$113.23

(1 USD = 1.7 AZN on May 21)

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