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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 27 May 2023 12:24 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, May 27. 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 $79.27 per barrel, up by $0.66 (0.84 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $80.46 per barrel, while the minimum price was $78.47.

The average price of Azeri LT FOB Ceyhan totaled $77.35 per barrel this week, more by $0.63 (0.82 percent) compared to the previous price.

The maximum price for Azeri LT FOB Ceyhan amounted to $78.51 per barrel, while the minimum price was $76.53.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $51.93 per barrel this week, which was $1.43 (2.83 percent) more than in the previous week.

The maximum price for URALS oil amounted to $53.37 per barrel, while the minimum price – $50.82. 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 $76.46 per barrel this week, increasing by $0.7 (0.92 percent).

The maximum price for Brent Dated amounted to $77.59 per barrel, while the minimum price – $75.57.

Oil grade/date

May 22

May 23

May 24

May 25

May 26

Average price

Azeri LT CIF

$78.70

$79.76

$80.46

$78.47

$78.98

$79.27

Azeri Light FOB Ceyhan

$76.81

$77.80

$78.51

$76.53

$77.11

$77.35

Urals (EX NOVO)

$50.82

$51.91

$53.37

$51.37

$52.18

$51.93

Brent Dated

$75.81

$76.90

$77.59

$75.57

$76.44

$76.46

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

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