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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 4 February 2023 15:21 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 4. Azerbaijani oil prices have decreased this week, Trend reports.

The average price for the Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $85.98 per barrel, down by $4.07 (4.52 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $87.79 per barrel, while the minimum price was $84.05.

The average price of Azeri LT FOB Ceyhan totaled $84.06 per barrel this week, lowering by $3.84 (4.37 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $85.7 per barrel, while the minimum price was $82.25.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk totaled $45.91 per barrel this week, which was $3.51 (7.11 percent) more than in the previous week.

The maximum price for URALS oil amounted to $47.71 per barrel, while the minimum price – $43.94.

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 $82.64 per barrel this week, reducing by $3.99 or 4.6 percent.

The maximum price for Brent Dated amounted to $84.63 per barrel, while the minimum price – $80.62.

Oil grade/date

January 30, 2023

January 31, 2023

February 1, 2023

February 2, 2023

February 3, 2023

Average price

Azeri LT CIF

$87.79

$87.53

$86.41

$84.14

$84.05

$85.98

Azeri Light FOB Ceyhan

$85.70

$85.55

$84.52

$82.26

$82.25

$84.06

Urals (EX NOVO)

$47.71

$47.33

$46.21

$43.94

$44.35

$45.91

Brent Dated

$84.63

$84.22

$82.98

$80.74

$80.62

$82.64

(1 USD = 1.7 AZN on February 4, 2023)

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