Weekly Review Of Azerbaijan's Oil Market


(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 20. Azerbaijani oil prices have decreased this week, trend reports.

The average price for the Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, lowered by $0.18 (0.23 percent) and amounted to $78.61 per barrel, compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $79.22 per barrel, while the minimum price was $77.87.

The average price of Azeri LT FOB Ceyhan totaled $76.72 per barrel this week, decreasing by $0.45 (0.06 percent) compared to the previous price.

The maximum price for Azeri LT FOB Ceyhan amounted to $77.29 per barrel, while the minimum price was $76.05.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk made up $50.5 per barrel this week, which is $0.03 (0.06 percent) less than in the previous week.

The maximum price for URALS oil amounted to $51.08 per barrel, while the minimum price – $49.77. Azerbaijan sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk oil pipeline.

The average price of Brent Dated settled at $75.76 per barrel this week, decreasing by $0.37 (0.48 percent).

The maximum price for Brent Dated amounted to $76.33 per barrel, while the minimum price – $75.15.

Oil grade/date

May 15

May 16

May 17

May 18

May 19

Average price

Azeri LT CIF

$78.18

$77.87

$79.22

$78.96

$78.81

$78.61

Azeri Light FOB Ceyhan

$76.40

$76.05

$77.29

$77.03

$76.82

$76.72

Urals (EX NOVO)

$49.95

$49.77

$51.08

$50.81

$50.83

$50.50

Brent Dated

$75.44

$75.15

$76.33

$75.95

$75.93

$75.76

(1 USD = 1.7 AZN on May 20, 2023)

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Trend News Agency

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