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Weekly review of Azerbaijan's oil market

Economy Materials 23 December 2023 12:34 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, December 23. Oil prices in Azerbaijan increased this week, Trend reports.

The average price of Azeri LT CIF Augusta crude oil, which is produced in the Azeri-Chirag-Gunashli block of Azerbaijani fields, grew by $4.3 (5.39 percent) from the previous week to $84.15 per barrel.

During the reporting period, the highest price was $83.35 per barrel, and the lowest was $83.26 per barrel.

Furthermore, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan this week was $82.44 per barrel, a $4 (5.1 percent) increase from the previous week. The highest price was $83.63 per barrel, while the lowest was $81.7 per barrel.

The average price of URALS crude oil fell by $1.85 (3.07 percent) from the previous week to $58.62 per barrel. The greatest price for URALS was $60.06 per barrel, while the lowest price was $56.85 per barrel.

The average price for Brent crude oil rose by $4.92 (6.51 percent) and amounted to $80.52 per barrel. The maximum price for Brent reached $81.87 per barrel, and the minimum – $79.18 per barrel.

Oil type

December 18, 2023

December 19, 2023

December 20, 2023

December 21, 2023

December 22, 2023

Average price

Azeri LT CIF

$83.26

$83.95

$85.35

$83.98

$84.2

$84.15

Azeri Light FOB Ceyhan

$81.7

$82.31

$83.63

$82.17

$82.4

$82.44

Urals (EX NOVO)

$61.41

$62.01

$63.22

$61.8

$61.97

$62.08

Dated Brent

$79.18

$80.17

$81.87

$80.58

$80.78

$80.52

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