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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 4 March 2023 12:18 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, March 4. Azerbaijani oil prices have increased this week, Trend reports.

The average price for the Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $85.45 per barrel, up by $1.72 (2.05 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $87.08 per barrel, while the minimum price was $83.34.

The average price of Azeri LT FOB Ceyhan totaled $83.63 per barrel this week, rising by $3.34 (2.02 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $85.17 per barrel, while the minimum price was $81.61.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $47.44 per barrel this week, which was $1.95 (4.28 percent) more than in the previous week.

The maximum price for URALS oil amounted to $48.75 per barrel, while the minimum price – $45.35.

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 $83.67 per barrel this week, increasing by $2.19 or 2.68 percent.

The maximum price for Brent Dated amounted to $85.17 per barrel, while the minimum price – $81.47.

Oil grade/date

February 27, 2023

February 28, 2023

March 1, 2023

March 2, 2023

March 3, 2023

Average price

Azeri LT CIF

$83.34

$85.01

$85.12

$86.71

$87.08

$85.45

Azeri Light FOB Ceyhan

$81.61

$83.20

$83.29

$84.87

$85.17

$83.63

Urals (EX NOVO)

$45.35

$47.17

$47.26

$48.67

$48.75

$47.44

Brent Dated

$81.47

$83.14

$83.50

$85.08

$85.17

$83.67

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

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