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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 2 September 2023 12:12 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, September 2. 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 $2.13 (2.41 percent) compared to last week and amounted to $90.51 per barrel. The maximum price during the reporting period was $93.5 per barrel, and the minimum – $88.56 per barrel.

This week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $89.52 per barrel, which is $2.15 (2.46 percent) more than last week. The maximum price was $92.53 per barrel, and the minimum price was $87.55 per barrel.

The average price of URALS crude oil increased by $2.05 (2.91 percent) compared to last week and amounted to $72.31 per barrel. The maximum price for URALS reached $75.09 per barrel, and the minimum – $70.55 per barrel.

The average price for Brent crude oil increased by $1.79 (2.1 percent) and amounted to $86.8 per barrel. The maximum price for Brent reached $89.44 per barrel, and the minimum – $85.24 per barrel.

Oil type

August 28, 2023

August 29, 2023

August 30, 2023

August 31, 2023

September 1, 2023

Average price

Azeri LT CIF

$88.56

$89.21

$89.86

$91.43

$93.50

$90.51

Azeri Light FOB Ceyhan

$87.55

$88.20

$88.85

$90.46

$92.53

$89.52

Urals (EX NOVO)

$70.55

$71.28

$71.53

$73.10

$75.09

$72.31

Brent Dated

$85.24

$85.87

$86.10

$87.36

$89.44

$86.80

(1 USD = 1.7 AZN on September 2, 2023)

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