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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 12 August 2023 14:05 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, August 12. Azerbaijani oil prices have increased 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, increased by $1.69 (1.9 percent) this week compared to last week's figure and amounted to $90.53 per barrel.

The maximum price during the reporting period was $91.4 per barrel, and the minimum was $89.45.

This week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $87.91 per barrel, which is $1.68 (1.91 percent) more than last week. The maximum price for it was $90.46 per barrel, and the minimum was $88.5.

The average price of URALS crude oil increased by $3.34 (4.74 percent) compared to last week and amounted to $73.75 per barrel. The maximum price for URALS reached $74.72 per barrel, while the minimum was $72.74.

The average price for Brent crude oil grew by $1.72 (two percent) and amounted to $87.27 per barrel this week. The maximum price for Brent reached $88.43 per barrel, and the minimum was $86.46 per barrel.

Oil type

August 7, 2023

August 8, 2023

August 9, 2023

August 10, 2023

August 11, 2023

Average price

Azeri LT CIF

$89.45

$89.45

$91.15

$91.19

$91.4

$90.53

Azeri Light FOB Ceyhan

$88.55

$88.5

$90.19

$90.24

$90.46

$89.59

Urals (EX NOVO)

$72.74

$73.02

$74.72

$74.2

$74.1

$73.75

Brent Dated

$86.55

$86.66

$86.46

$88.27

$88.43

$87.27

(1 USD = 1.7 AZN on August 12, 2023)

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