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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 22 July 2023 13:45 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, July 22. Azerbaijani oil prices have dropped this week, Trend reports.

The average price of Azeri LT CIF Augusta crude oil, which is produced at the Azeri-Chirag-Gunashli block of Azerbaijani fields, fell by $0.07 (0.08 percent) this week compared to last week's figure and amounted to $83.66 per barrel. The maximum price for it during the reporting period was $84.3 per barrel, the minimum – $82.96.

This week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $82.43 per barrel, which is $0.1 (0.12 percent) less in comparison with last week. The maximum price for it was $83.09 per barrel, the minimum – $81.69.

The average price of URALS crude oil increased by $1.15 (1.9 percent) compared to last week and amounted to $61.94 per barrel. The maximum price for URALS was $64.42 per barrel, while the minimum – $60.06.

The average price for Brent Dated oil fell by 0.25 percent (or $0.2) to $79.55 per barrel this week. The maximum price for Brent was $80.37 per barrel, and the minimum – $ 78.64 per barrel.

Oil/date

July 17, 2023

July 18, 2023

July 19, 2023

July 20, 2023

July 21, 2023

Average price

Azeri LT CIF

$82.96

$83.53

$84.30

$83.37

$84.15

$83.66

Azeri Light FOB Ceyhan

$81.69

$82.27

$83.09

$82.14

$82.95

$82.43

Urals (EX NOVO)

$60.06

$60.73

$62.31

$62.19

$64.42

$61.94

Brent Dated

$78.64

$79.41

$80.21

$79.12

$80.37

$79.55

(1 USD = 1.7 AZN on July 22, 2023)

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