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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 16 September 2023 12:04 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, September 16. 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 $2.98 (3.1 percent) compared to last week and amounted to $99.04 per barrel. The maximum price for this period reached $100.56 per barrel, and the minimum was $96.73 per barrel.

This week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $98.16 per barrel, which is $3.03 (3.19 percent) more than last week. The maximum price was $99.69 per barrel, and the minimum price was $95.84 per barrel.

The average price of URALS crude oil increased by $2.54 (3.28 percent) compared to last week and amounted to $80.03 per barrel. The maximum price for URALS reached $81.44 per barrel, and the minimum was $77.78 per barrel.

The average price for Brent Crude oil increased by $2.2 (2.4 percent) and amounted to $93.85 per barrel. The maximum price for Brent reached $95.14 per barrel, and the minimum was $92.02 per barrel.

Oil type

September 11, 2023

September 12, 2023

September 13, 2023

September 14, 2023

September 15, 2023

Average price

Azeri LT CIF

$96.73

$98.64

$98.73

$100.53

$100.56

$99.04

Azeri Light FOB Ceyhan

$95.84

$97.75

$97.86

$99.67

$99.69

$98.16

Urals (EX NOVO)

$77.78

$79.72

$79.81

$81.40

$81.44

$80.03

Brent Dated

$92.02

$93.60

$93.39

$95.11

$95.14

$93.85

(1 USD = 1.7 AZN on September 16, 2023)

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