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Crude price again decreases on world markets

3 February 2016 16:33 (UTC+04:00)
Crude price again decreases on world markets

The price of oil has continued to fall in the world markets.

On the New York Stock Exchange NYMEX cost of the US Light crude oil decreased $1.25 to stand at $29.66. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) fell $1.09 to trade at $32.39.

SOCAR Marketing and Economic Operations Department reported that the price of a barrel of Azeri Light crude oil decreased $1.69 to stand at $34.09 on the world markets.

AZERI Light FOB Ceyhan oil price was $33.39 per barrel on Feb. 2, or $1.37 less than the previous price.

Azerbaijan produces Azeri Light since 1997 and exports it via Baku-Tbilisi-Ceyhan and Baku-Supsa pipelines, as well as by rail to the Georgian port of Batumi.

Azerbaijan also exports URALS oil from Russia’s Black Sea port of Novorossiysk. The oil is delivered there via the Baku-Novorossiysk pipeline.

The price for URALS-NOVO was $29.45 per barrel on Feb. 2, or $1.41 less than the previous price.

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