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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 28 January 2023 13:35 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, January 28. 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 $90.06 per barrel, down by 22 cents (0.24 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $92.11 per barrel, while the minimum price was $88.91.

The average price of Azeri LT FOB Ceyhan totaled $87.6 per barrel this week, lowering by 46 cents (0.52 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $89.82 per barrel, while the minimum price was $86.85.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk totaled $49.42 per barrel this week, which was $2.14 (4.53 percent) more than in the previous week.

The maximum price for URALS oil amounted to $50.97 per barrel, while the minimum price – $48.64.

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 $86.62 per barrel this week, rising by $1.92 or 2.26 percent.

The maximum price for Brent Dated amounted to $88.21 per barrel, while the minimum price – $85.89.

Oil grade/date

January 23, 2023

January 24, 2023

January 25, 2023

January 26, 2023

January 27, 2023

Average price

Azeri LT CIF

$92.11

$89.87

$89.45

$89.94

$88.91

$90.06

Azeri Light FOB Ceyhan

$89.82

$87.67

$87.31

$87.85

$86.85

$87.90

Urals (EX NOVO)

$50.97

$48.86

$48.64

$49.74

$48.89

$49.42

Brent Dated

$88.21

$86.13

$85.89

$86.90

$85.99

$86.62

(1 USD = 1.7 AZN on January 28)

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