Crude prices on world markets
The price of oil continues to rise in the world markets.
On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.31 to stand at $29.42.
Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) rose $0.87 to trade at $33.50, Azertac state news agency reported.
The average price for AZERI LT CIF, extracted on the block of Azerbaijani fields Azeri-Chirag-Guneshli, was $32.4 per barrel on February 8-12 or $2.62 per barrel less than the previous week.
The maximum price for AZERI LT was $34.26 per barrel and the minimum price was $30.43 per barrel during the reporting period.
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.
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