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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 11 June 2022 13:16
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 11. Azerbaijani oil prices grew this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $129.03 per barrel, having increased by $2.66 (2.1 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $131.15 per barrel, while the minimum price – was $127.13.

The average price of Azeri LT FOB Ceyhan totaled $127.88 per barrel this week, up by $2.57 (2.05 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $129.90 per barrel, while the minimum price was $126.07.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $87.5 per barrel this week, which was $4.15 (4.97 percent) more than in the previous week.

The maximum price for URALS oil amounted to $89.63 per barrel, while the minimum price – was $85.55.

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 $127.05 per barrel this week, thus increasing by $5.44 (4.47 percent).

The maximum price for Brent Dated amounted to $128.93 per barrel, while the minimum price – was $124.68.

Oil grade/date

June 6, 2022

June 7, 2022

June 8, 2022

June 9, 2022

June 10, 2022

Average price

Azeri LT CIF

$127.13

$127.94

$130.02

$131.15

$128.93

$129.03

Azeri Light FOB Ceyhan

$126.07

$126.88

$128.95

$129.90

$127.61

$127.88

Urals (EX NOVO)

$85.55

$86.39

$88.50

$89.63

$87.43

$87.50

Brent Dated

$124.68

$125.80

$128.29

$128.93

$127.55

$127.05

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