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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 15 April 2023 14:39 (UTC +04:00)

BAKU, Azerbaijan, April 15. 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 $89.95 per barrel, up by $1.83 (2.07 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $90.78 per barrel, while the minimum price was $88.44.

The average price of Azeri LT FOB Ceyhan totaled $88.05 per barrel this week, more by $1.99 (2.31 percent) compared to the previous price.

The maximum price for Azeri LT FOB Ceyhan amounted to $88.85 per barrel, while the minimum price was $86.46.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $57.4 per barrel this week, which was $2.19 (3.96 percent) more than in the previous week.

The maximum price for URALS oil amounted to $58.26 per barrel, while the minimum price – $55.71. 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 $87.51 per barrel this week, increasing by $2.11 (2.47 percent).

The maximum price for Brent Dated amounted to $87.89 per barrel, while the minimum price – $86.08.

Oil grade/date

April 11

April 12

April 13

April 14

Average price

Azeri LT CIF

$88.44

$90.78

$90.49

$90.09

$89.95

Azeri Light FOB Ceyhan

$86.46

$88.85

$88.61

$88.27

$88.05

Urals (EX NOVO)

$55.71

$58.00

$57.64

$58.26

$57.40

Brent Dated

$86.08

$88.21

$87.87

$87.89

$87.51

(1 USD = 1.7 AZN on April 15, 2023)

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