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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 2 July 2022 11:32 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, July 2. Azerbaijani oil prices have grown this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $124.47 per barrel, having increased by $4.4 (3.66 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $126.81 per barrel, while the minimum price – was $122.18.

The average price of Azeri LT FOB Ceyhan totaled $123.06 per barrel this week, up by $4.51 (3.8 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $125.42 per barrel, while the minimum price was $120.74.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $80.56 per barrel this week, which was $3.26 (4.21 percent) more than in the previous week.

The maximum price for URALS oil amounted to $83.05 per barrel, while the minimum price – was $78.96.

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 $122.04 per barrel this week, thus reducing by $3.21 (2.7 percent).

The maximum price for Brent Dated amounted to $124.59 per barrel, while the minimum price – was $120.49.

Oil grade/date

June 27, 2022

June 28, 2022

June 29, 2022

June 30, 2022

July 1, 2022

Average price

Azeri LT CIF

$122.18

$124.68

$126.81

$123.40

$125.30

$124.47

Azeri Light FOB Ceyhan

$120.74

$123.24

$125.42

$122.01

$123.91

$123.06

Urals (EX NOVO)

$79.09

$81.41

$83.05

$78.96

$80.32

$80.56

Brent Dated

$120.65

$122.94

$124.59

$120.49

$121.54

$122.04

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