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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 3 December 2022 11:13 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, December 3. 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 $87.17 per barrel, down by $2 (0.23 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $90.38 per barrel, while the minimum price was $84.03.

The average price of Azeri LT FOB Ceyhan totaled $84.17 per barrel this week, increasing by five cents (0.06 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $87.5 per barrel, while the minimum price was $80.75.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $53.23 per barrel this week, which was three cents (0.06 percent) more than in the previous week.

The maximum price for URALS oil amounted to $56.53 per barrel, while the minimum price – $49.94.

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 $85.83 per barrel this week, thus rising by five cents (0.06 percent).

The maximum price for Brent Dated amounted to $89.08 per barrel, while the minimum price – $82.65.

Oil grade/date

November 28, 2022

November 29, 2022

November 30, 2022

December 1, 2022

December 2, 2022

Average price

Azeri LT CIF

$84.03

$85.21

$87.82

$90.38

$88.43

$87.17

Azeri Light FOB Ceyhan

$80.75

$82.09

$85

$87.50

$85.50

$84.17

Urals (EX NOVO)

$49.94

$51.15

$54.20

$56.53

$54.32

$53.23

Brent Dated

$82.65

$83.94

$86.54

$89.08

$86.95

$85.83

(1 USD = 1.7 AZN on December 3)

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