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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 27 February 2023 10:09 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 27. Azerbaijani oil prices have decreased last week, Trend reports.

The average price for the Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $83.73 per barrel, down by $3.41 (3.91 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $85.19 per barrel, while the minimum price was $82.4.

The average price of Azeri LT FOB Ceyhan totaled $81.97 per barrel last week, lowering by $3.34 (4.03 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $83.36 per barrel, while the minimum price was $80.66.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $45.49 per barrel this week, which was $2.22 (7.11 percent) less than in the previous week.

The maximum price for URALS oil amounted to $46.46 per barrel, while the minimum price – $44.32.

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 settled at $81.48 per barrel last week, declining by $2.47 (2.94 percent).

The maximum price for Brent Dated amounted to $82.34 per barrel, while the minimum price – $80.25.

Oil grade/date

February 20, 2023

February 21, 2023

February 22, 2023

February 23, 2023

February 24, 2023

Average price

Azeri LT CIF

$85.19

$84.34

$82.4

$82.95

$83.77

$83.73

Azeri Light FOB Ceyhan

$83.36

$82.55

$80.66

$81.22

$82.04

$81.97

Urals (EX NOVO)

$46.46

$45.97

$44.32

$44.9

$45.78

$45.49

Brent Dated

$82.34

$82

$80.25

$80.94

$81.85

$81.48

(1 USD = 1.7 AZN on February 27, 2023)

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