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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 15 October 2022 12:02 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, October 15. Azerbaijani oil prices have fluctuated this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $98.40 per barrel, up by 36 cents (0.37 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $102 per barrel, while the minimum price was $96.14.

The average price of Azeri LT FOB Ceyhan totaled $96.6 per barrel this week, which is a growth of 30 cents (0.31 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $100.29 per barrel, while the minimum price was $94.23.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $68.5 per barrel this week, which was 8 cents (0.12 percent) more than in the previous week.

The maximum price for URALS oil amounted to $72.34 per barrel, while the minimum price - $65.96.

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 $94.73 per barrel this week, thus reducing by 5 cents (0.05 percent).

The maximum price for Brent Dated amounted to $98.40 per barrel, while the minimum price –$92.88.

Oil grade/date

October 10, 2022

October 11, 2022

October 12, 2022

October 13, 2022

October 14, 2022

Average price

Azeri LT CIF

$102

$98.83

$96.94

$97.98

$96.14

$98.40

Azeri Light FOB Ceyhan

$100.29

$97.12

$95.23

$96.14

$94.23

$96.60

Urals (EX NOVO)

$72.34

$69.18

$67.31

$67.70

$65.96

$68.50

Brent Dated

$98.40

$95.34

$93.08

$93.98

$92.88

$94.73

(1 USD = 1.7 AZN on October 15)

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