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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 10 December 2022 13:55 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, December 10. Azerbaijani oil prices have decreased this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $81.41 per barrel, down by $5.76 (6.6 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $87.09 per barrel, while the minimum price was $78.07.

The average price of Azeri LT FOB Ceyhan totaled $78.54 per barrel this week, dropping by $5.63 (6.68 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $84.21 per barrel, while the minimum price was $75.25.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $45.23 per barrel this week, which was $8 (15.03 percent) less than in the previous week.

The maximum price for URALS oil amounted to $53 per barrel, while the minimum price – $40.91.

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 $79.73 per barrel this week, thus reducing by $6.1 (7.1 percent).

The maximum price for Brent Dated amounted to $85.59 per barrel, while the minimum price – $76.36.

Oil grade/date

December 5, 2022

December 6, 2022

December 7, 2022

December 8, 2022

December 9, 2022

Average price

Azeri LT CIF

$87.09

$82.09

$80.33

$78.07

$79.49

$81.41

Azeri Light FOB Ceyhan

$84.21

$79.21

$77.45

$75.25

$76.56

$78.54

Urals (EX NOVO)

$53.00

$45.99

$44.10

$40.91

$42.17

$45.23

Brent Dated

$85.59

$80.53

$78.56

$76.36

$77.63

$79.73

(1 USD = 1.7 AZN on December 10)

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