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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 10 June 2023 12:26 (UTC +04:00)
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 10. 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 $78.88 per barrel, up by $2.36 (3.1 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $79.52 per barrel, while the minimum price was $78.43.

The average price of Azeri LT FOB Ceyhan totaled $77.38 per barrel this week, more by $2.58 (3.45 percent) compared to the previous price.

The maximum price for Azeri LT FOB Ceyhan amounted to $77.99 per barrel, while the minimum price was $76.92.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $52.77 per barrel this week, which was $2.64 (5.3 percent) more than in the previous week.

The maximum price for URALS oil amounted to $53.98 per barrel, while the minimum price – $51.88. 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 $76.33 per barrel this week, increasing by $1.93 (2.6 percent).

The maximum price for Brent Dated amounted to $77.31 per barrel, while the minimum price – $75.65.

Oil grade/date

June 5

June 6

June 7

June 8

June 9

Average price

Azeri Light FOB Ceyhan

$77.99

$77.08

$78

$76.92

$76.92

$77.38

Urals (EX NOVO)

$53.98

$52.13

$52.97

$51.88

$52.89

$52.77

Brent Dated

$77.31

$76.29

$76.71

$75.65

$75.68

$76.33

Azeri Light FOB Ceyhan

$77.99

$77.08

$78

$76.92

$76.92

$77.38

(1 USD = 1.7 AZN on June 10, 2023)

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