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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 24 December 2022 15:16 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, December 24. 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 $85.9 per barrel, up by $2.43 (2.91 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $87.34 per barrel, while the minimum price was $84.09.

The average price of Azeri LT FOB Ceyhan totaled $83.75 per barrel this week, growing by $3.13 (3.88 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $85.46 per barrel, while the minimum price was $81.79.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $43.60 per barrel this week, which was $1.64 (3.62 percent) less than in the previous week.

The maximum price for URALS oil amounted to $44.52 per barrel, while the minimum price – $41.91.

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 $80.04 per barrel this week, thus reducing by 81 cents (one percent).

The maximum price for Brent Dated amounted to $80.89 per barrel, while the minimum price – $78.59.

Oil grade/date

December 19, 2022

December 20, 2022

December 21, 2022

December 22, 2022

December 23, 2022

Average price

Azeri LT CIF

$84.43

$84.09

$86.40

$87.22

$87.34

$85.90

Azeri Light FOB Ceyhan

$81.79

$81.90

$84.37

$85.22

$85.46

$83.75

Urals (EX NOVO)

$42.99

$41.91

$44.17

$44.42

$44.52

$43.60

Brent Dated

$79.65

$78.59

$80.30

$80.79

$80.89

$80.04

(1 USD = 1.7 AZN on December 24)

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