The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, dropped by 66 cents on Feb.16 compared to the previous price, amounting to $63.68 per barrel, Trend reports with reference to the source from the country's oil and gas market.
The price of Azeri LT FOB Ceyhan equaled $62.92 per barrel on Feb.16, which is 78 cents less than the previous price.
Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.
Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk pipeline.
The price of URALS with shipment from the port totaled $60.41 per barrel on Feb.16, has decreased by 68 cents compared to the previous price.
The cost of a barrel of Brent Dated oil, produced in the North Sea, has stood at $63.57 per barrel, falling by 50 cents compared to the previous price.
Follow us on Twitter @AzerNewsAz