Oil market
The average price for AZERI LT (CIF based), extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $37.29 per barrel on Dec. 21-24 or $1.01 per barrel less than the previous week.
The maximum price for AZERI LT was $38.05 per barrel and the minimum price was $36.71 per barrel during the reporting period.
Azerbaijan sells AZERI LT via the Turkish port of Ceyhan and Georgian ports - Batumi and Supsa. The oil is supplied to Ceyhan via the BTC pipeline and to Georgia - via the Baku-Supsa pipeline and railway.
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 reached $32.33 per barrel or $1 per barrel less than the previous week.
The maximum price for Urals totaled $33.07 per barrel and the minimum - $31.81 per barrel.
Azerbaijan sells oil supplied via the Baku-Novorossiysk pipeline through this Russian port.
SOCAR plans to pump 1.4 million tons of oil through the pipeline in 2016.
The average price for Brent Dated was $36.23 per barrel or $0.91 per barrel less than the previous week.
The maximum price for Brent was $37.08 per barrel and the minimum - $35.76 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.
Currency market
The official exchange rate of Azerbaijani manat to the US dollar set by Azerbaijani Central Bank dropped by 0.004 manats (0.2581 percent). Accordingly, the average rate was set at 1.55204 manats to 1 US dollar.
During the week, the official exchange rate of manat to euro set by the CBA dropped by 0.0193 manats (1.1454 percent). Accordingly, the average rate was set at 1.69568 manats to 1 euro.
The official exchange rate of Azerbaijani manat to the Russian ruble set by Azerbaijani Central Bank dropped by 0.0003 manats (1.3761 percent). Accordingly, the average rate was set at 0.02196 manats to 1 Russian ruble.
During the week, the official exchange rate of manat to Turkish lira set by the CBA dropped by 0.0001 manats (0.0188 percent). Accordingly, the average rate was set at 0.5317 manats to 1 Turkish lira.
This week, the price on one ounce of gold has increased by 9.1826 manats (0.5543 percent). Accordingly, the average price for gold reached 1664,57552 manats.
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.