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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 16 July 2022 15:14 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, July 16. Azerbaijani oil prices reduced this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $115.68 per barrel, having decreased by $5.04 (3.93 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $120.1 per barrel, while the minimum price – was $111.98.

The average price of Azeri LT FOB Ceyhan totaled $114.21 per barrel this week, down by $4.34 (3.66 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $118.68 per barrel, while the minimum price was $110.53.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $67.98 per barrel this week, which was $6.24 (8.4 percent) less than in the previous week.

The maximum price for URALS oil amounted to $73.21 per barrel, while the minimum price – was $64.03.

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 $109.81 per barrel this week, thus reducing by $5.82 (5.03 percent).

The maximum price for Brent Dated amounted to $114.61 per barrel, while the minimum price – was $105.93.

Oil grade/date

July 11, 2022

July 12, 2022

July 13, 2022

July 14, 2022

July 15, 2022

Average price

Azeri LT CIF

$120.10

$113.91

$114.18

$111.98

$118.22

$115.68

Azeri Light FOB Ceyhan

$118.68

$112.48

$112.73

$110.53

$116.65

$114.21

Urals (EX NOVO)

$73.21

$67.05

$66.65

$64.03

$68.98

$67.98

Brent Dated

$114.61

$108.91

$108.53

$105.93

$111.07

$109.81

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