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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 17 December 2022 13:53 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, December 17. Azerbaijani oil prices have increased this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $83.47 per barrel, up by $2.06 (2.53 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $85.94 per barrel, while the minimum price was $80.8.

The average price of Azeri LT FOB Ceyhan totaled $80.62 per barrel this week, growing by $2.08 (2.64 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $83.09 per barrel, while the minimum price was $77.87.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $45.24 per barrel this week, which was one cent (0.02 percent) more than in the previous week.

The maximum price for URALS oil amounted to $48.21 per barrel, while the minimum price – $42.71.

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 $80.85 per barrel this week, thus rising by $1.12 (1.4 percent).

The maximum price for Brent Dated amounted to $83.61 per barrel, while the minimum price – $78.74.

Oil grade/date

December 12, 2022

December 13, 2022

December 14, 2022

December 15, 2022

December 16, 2022

Average price

Azeri LT CIF

$80.80

$83.04

$85.94

$84.77

$82.82

$83.47

Azeri Light FOB Ceyhan

$77.87

$80.16

$83.09

$81.94

$80.04

$80.62

Urals (EX NOVO)

$43.30

$45.56

$48.21

$46.43

$42.71

$45.24

Brent Dated

$78.74

$80.97

$83.61

$81.83

$79.12

$80.85

(1 USD = 1.7 AZN on December 17)

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