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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 14 January 2023 13:33 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, January 14. 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 $87.77 per barrel, up by $3.05 (3.6 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $91.26 per barrel, while the minimum price was $84.63.

The average price of Azeri LT FOB Ceyhan totaled $85.75 per barrel this week, increasing by $2.71 (3.26 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $89 per barrel, while the minimum price was $82.81.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk totaled $42.95 per barrel this week, which was $1.11 (2.65 percent) more than in the previous week.

The maximum price for URALS oil amounted to $45.15 per barrel, while the minimum price – $40.89.

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 $80.37 per barrel this week, rising by $3.36 or 2.62 percent.

The maximum price for Brent Dated amounted to $83.33 per barrel, while the minimum price – $77.44.

Oil grade/date

January 9, 2023

January 10, 2023

January 11, 2023

January 12, 2023

January 13, 2023

Average price

Azeri LT CIF

$84.63

$84,83

$87.52

$90.63

$91.26

$87.77

Azeri Light FOB Ceyhan

$82.97

$82.81

$85.48

$88.50

$89

$85.75

Urals (EX NOVO)

$41.69

$40.89

$42.33

$44.70

$45.15

$42.95

Brent Dated

$77.44

$77.80

$80.44

$82.83

$83.33

$80.37

(1 USD = 1.7 AZN on January 14)

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