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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 16 December 2023 23:10 (UTC +04:00)
Weekly review of Azerbaijan's oil market
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 16. Oil prices in Azerbaijan decreased this week, Trend reports.

The average price of Azeri LT CIF Augusta crude oil, which is produced in the Azeri-Chirag-Gunashli block of Azerbaijani fields, fell by $0.82 (1.02 percent) from the previous week to $79.85 per barrel.

During the reporting period, the highest price was $81.5 per barrel, and the lowest was $77.82 per barrel.

Furthermore, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan this week was $78.44 per barrel, a $0.73 (0.93 percent) decrease from the previous week. The highest price was $80.12 per barrel, while the lowest was $76.41 per barrel.

The average price of URALS crude oil fell by $1.85 (3.07 percent) from the previous week to $58.62 per barrel. The greatest price for URALS was $60.06 per barrel, while the lowest price was $56.85 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 11, 2023

December 12, 2023

December 13, 2023

December 14, 2023

December 15, 2023

Average price

Azeri LT CIF

$80.22

$77.82

$78.31

$81.50

$81.38

$79.85

Azeri Light FOB Ceyhan

$78.81

$76.41

$76.93

$80.12

$79.92

$78.44

Urals (EX NOVO)

$59.41

$56.85

$57.18

$60.06

$59.61

$58.62

Dated Brent

$75.95

$73.56

$74.09

$77.28

$77.09

$75.59

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