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Weekly review of Azerbaijan's oil market

Oil&Gas Materials 9 October 2023 10:36 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, October 9. Oil prices decreased last week, Trend reports.

The average price of Azeri LT CIF Augusta crude oil, which is produced at the Azeri-Chirag-Gunashli block of Azerbaijani fields, decreased by $5.97 (5.94 percent) compared the week before and amounted to $94.62 per barrel.

The maximum price during the reporting period was $97.81 per barrel, and the minimum – $91.23 per barrel.

Last week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $93.6 per barrel, which is $5.96 (5.99 percent) less from the week before. The maximum price was $101.65 per barrel, and the minimum - $98.01 per barrel.

The average price of URALS crude oil increased by $0.32 (0.39 percent) compared to last week and amounted to $82.38 per barrel. The maximum price for URALS reached $96.81 per barrel, and the minimum – $90.2 per barrel.

The average price for Brent crude oil decreased by $4.39 (4.58 percent) and amounted to $91.52 per barrel. The maximum price for Brent reached $94.68 per barrel, and the minimum – $88,2 per barrel.

Oil type

October 2, 2023

October 3, 2023

October 4, 2023

October 5, 2023

October 6, 2023

Average price

Azeri LT CIF

$97,77

$97,81

$94,79

$91,48

$91,23

$94,62

Azeri Light FOB Ceyhan

$96,78

$96,81

$93,76

$90,45

$90,20

$93,60

Urals (EX NOVO)

$80,19

$80,23

$77,22

$74,25

$74,37

$77,25

Brent Dated

$94,56

$94,68

$91,68

$88,48

$88,20

$91,52

(1 USD = 1.7 AZN on October 9, 2023)

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