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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 9 December 2023 13:22 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 9. 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 $4.55 (5.34 percent) compared to last week and amounted to $80.67 per barrel.

The maximum price during the reporting period was $82.68 per barrel, and the minimum – $78.72 per barrel.

Besides, this week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $79.17 per barrel, which is $4.49 (5.36 percent) less from the week before. The maximum price was $81.18 per barrel, and the minimum - $77.19 per barrel.

The average price of URALS crude oil decreased by $5.32 (8.09 percent) compared to last week and amounted to $60.48 per barrel. The maximum price for URALS reached $62.79 per barrel, and the minimum – $58.26 per barrel.

The average price for Brent crude oil fell by $4.99 (6.15 percent) and amounted to $81.22 per barrel. The maximum price for Brent reached $78.25 per barrel, and the minimum – $74.3 per barrel.

Oil type

December 4, 2023

December 5, 2023

December 6, 2023

December 7, 2023

December 8, 2023

Average price

Azeri LT CIF

$82.68

$82.62

$79.11

$78.72

$80.21

$80.67

Azeri Light FOB Ceyhan

$81.18

$81.09

$77.6

$77.19

$78.8

$79.17

Urals (EX NOVO)

$62.79

$62.64

$59.04

$58.26

$59.65

$60.48

Dated Brent

$78.25

$78.13

$74.66

$74.3

$75.81

$76.23

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