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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 18 November 2023 16:28 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, November 18. Oil prices in Azerbaijan decreased 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, decreased by $1.62 (1.87 percent) compared to last week and amounted to $85.35 per barrel.

The maximum price during the reporting period was $88.11 per barrel, and the minimum – $82 per barrel.

Besides, this week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $83.4 per barrel, which is $1.27 (1.5 percent) less from the week before. The maximum price was $86.12 per barrel, and the minimum - $80.12 per barrel.

The average price of URALS crude oil decreased by $2.71 (3.83 percent) compared to last week and amounted to $68.04 per barrel. The maximum price for URALS reached $71.01 per barrel, and the minimum – $64.3 per barrel.

The average price for Brent crude oil fell by $2.18 (2.59 percent) and amounted to $82.1 per barrel. The maximum price for Brent reached $85.19 per barrel, and the minimum – $78.15 per barrel.

Oil type

November 13, 2023

November 14, 2023

November 15, 2023

November 16, 2023

November 17, 2023

Average price

Azeri LT CIF

$87.15

$88.11

$85.81

$82

$83.67

$85.35

Azeri Light FOB Ceyhan

$85.04

$86.12

$83.87

$80.12

$81.86

$83.4

Urals (EX NOVO)

$70.37

$71.01

$68.58

$64.3

$65.94

$68.04

Dated Brent

$84.47

$85.19

$82.61

$78.15

$80.08

$82.1

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