Oil prices and dynamics of monetary market of Azerbaijan (Nov. 23-27)
The average price for AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to the Italian Augusta port, was $46.01 per barrel on Nov. 23-27 or $2.05 per barrel more than the previous week.
The maximum price for AZERI LT was $46.57 per barrel and the minimum price was $45.84 per barrel during the reporting period.
Azerbaijan plans to extract an average of 0.87 million barrels of Azeri Light per day in 2016.
The average price for Urals (Ex-Novo) exported from Azerbaijan via the Novorossiysk port stood at $41.17 per barrel or $2.83 per barrel more than the previous week.
The maximum price for Urals totaled $41.52 per barrel and the minimum - $40.63 per barrel.
Urals' density is 32 degrees API with sulfur content up to 1.3 percent. The oil grade's specifications vary when sold depending on its high/low-quality content.
SOCAR plans to pump 1.4 million tons of oil through the pipeline in 2016.
The average price for Brent Dated was $44.09 per barrel or $2.4 per barrel more than the previous week.
The maximum price for Brent was $44.63 per barrel and the minimum - $43.85 during the reporting period.
International financial institutions forecast that the average Brent price will reach $55-60 per barrel in 2016 compared to $53-55 per barrel in the current year.
The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijani Central Bank remained unchanged. Accordingly, the average rate was set at 1.05104 manat to 1 US dollar.
During the week, the official exchange rate of manat to euro set by the CBA consolidated by 0.0004 manat (0.0359 percent). Accordingly, the average rate was set at 1.11682 manat to 1 euro.
This week, the price on one ounce of gold has decreased by 11.2993 manat (0.9938 percent).
Accordingly, the average price for gold reached 1128.4 manat.
The trading at Baku Interbank Currency Exchange (BBVB) has not been carried out since the beginning of the year, so the exchange rate of manat is not formed.