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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 1 October 2022 13:47 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, October 1. Azerbaijani oil prices have dropped this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $91.14 per barrel, having reduced by $1.32 (1.43 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $92.85 per barrel, while the minimum price was $89.07.

The average price of Azeri LT FOB Ceyhan has totaled $89.43 per barrel this week, down by $1.38 (1.52 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $91.14 per barrel, while the minimum price was $87.41.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $61.99 per barrel this week, which was $1.31 (2.07 percent) less than in the previous week.

The maximum price for URALS oil amounted to $63.9 per barrel, while the minimum price – $59.91.

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 $87.40 per barrel this week, thus declining by 57 cents (0.64 percent).

The maximum price for Brent Dated amounted to $89.81 per barrel, while the minimum price –$84.63.

Oil grade/date

Sept. 26, 2022

Sept. 27, 2022

Sept. 28, 2022

Sept. 29, 2022

Sept. 30, 2022

Average price

Azeri LT CIF

$89.07

$90.17

$91.93

$92.85

$91.68

$91.14

Azeri Light FOB Ceyhan

$87.41

$88.5

$90.24

$91.14

$89.88

$89.43

Urals (EX NOVO)

$59.91

$61.07

$62.95

$63.9

$62.12

$61.99

Brent Dated

$84.63

$86.39

$88.27

$89.81

$87.92

$87.40

(1 USD = 1.7 AZN on October 1)

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