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Weekly review of Azerbaijan's oil market

28 May 2022 17:43 (UTC+04:00)
Weekly review of Azerbaijan's oil market

By Trend

Azerbaijani oil prices have risen this week, Trend reports.

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $124.02 per barrel, having increased by $3.7 (3.1 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $125.91 per barrel, while the minimum price – was $122.7.

The average price of Azeri LT FOB Ceyhan totaled $122.96 per barrel this week, up by $3.73 (3.12 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $124.86 per barrel, while the minimum price was $121.65.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $79.45 per barrel this week, which was $3.13 (4.1 percent) more than in the previous week.

The maximum price for URALS oil amounted to $81.99 per barrel, while the minimum price – was $77.91.

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 made up $117.09 per barrel this week, thus increasing by $3.86 (3.4 percent).

The maximum price for Brent Dated amounted to $119.67 per barrel, while the minimum price – was $115.53.

Oil grade/date

May 23, 2022

May 24, 2022

May 25, 2022

May 26, 2022

May 27, 2022

Average price

Azeri LT CIF

$122.70

$122.94

$122.81

$125.75

$125.91

$124.02

Azeri Light FOB Ceyhan

$121.65

$121.88

$121.75

$124.69

$124.86

$122.96

Urals (EX NOVO)

$77.91

$78.15

$78.15

$81.05

$81.99

$79.45

Brent Dated

$115.53

$115.82

$115.74

$118.69

$119.67

$117.09

(1 USD = 1.7 AZN on May 28)

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