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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 25 March 2023 14:23 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, March 25. 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 $77.15 per barrel, down by $1.07 (1.36 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $78.76 per barrel, while the minimum price was $74.75.

The average price of Azeri LT FOB Ceyhan totaled $74.61 per barrel this week, lower by $1.73 (2.26 percent) compared to the previous price.

The maximum price for Azeri LT FOB Ceyhan amounted to $76.03 per barrel, while the minimum price was $72.58.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $40.6 per barrel this week, which was $0.95 (2.28 percent) less than in the previous week.

The maximum price for URALS oil amounted to $42.21 per barrel, while the minimum price – $38.27. 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 $74.2 per barrel this week, decreasing by $1.25 or 1.65 percent.

The maximum price for Brent Dated amounted to $75.88 per barrel, while the minimum price – $71.71.

Oil grade/date

March 20

March 21

March 22

March 23

Average price

Azeri LT CIF

$74.75

$76.71

$78.36

$78.76

$77.15

Azeri Light FOB Ceyhan

$72.58

$74.21

$75.63

$76.03

$74.61

Urals (EX NOVO)

$38.27

$40.21

$41.69

$42.21

$40.60

Brent Dated

$71.71

$73.78

$75.36

$75.88

$74.20

(1 USD = 1.7 AZN on March 25, 2023)

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