Crude prices on world markets
The price of oil changed in different directions in the world markets.
Cost of the US Light crude oil increased $0.20 to stand at $31.17 on the New York Stock Exchange NYMEX (New York Mercantile Exchange).
Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $0.27 to trade at $34.39.
SOCAR Marketing and Economic Operations Department reported that the price of a barrel of Azeri Light crude oil decreased $0.49 to stand at $34.91 on the world markets.
The average price for AZERI LT CIF, extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $35 per barrel on Feb. 1-5 or $0.41 per barrel more than the previous week.
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 Brent Dated was $32.45 per barrel on Feb. 1-5 or $0.75 per barrel more than the previous week.
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