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Weekly review of Azerbaijan’s oil market

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The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, equaled $120.32 per barrel, having increased by $7.47 (6.62 percent) compared to the previous price.

The maximum price for Azeri Light CIF oil amounted to $123.18 per barrel, while the minimum price – was $118.42.

The average price of Azeri LT FOB Ceyhan totaled $119.23 per barrel this week, up by $7.58 (6.79 percent) compared to the previous indicator.

The maximum price for Azeri LT FOB Ceyhan amounted to $122.06 per barrel, while the minimum price was $117.34.

The average price of URALS oil sold by Azerbaijan in the Russian Port of Novorossiysk reached $76.32 per barrel this week, which was $5.09 (7.14 percent) more than in the previous week.

The maximum price for URALS oil amounted to $79.73 per barrel, while the minimum price – was $74.31.

Azerbaijan sells its URALS oil from the Russian Black Sea port of Novorossiysk, delivering it through the Baku-Novorossiysk oil pipeline.

The average price of Brent Dated made up $113.23 per barrel this week, thus increasing by $5.6 (5.2 percent).

The maximum price for Brent Dated amounted to $116.51 per barrel, while the minimum price – was $111.33.

Oil grade/dateMay 16, 2022May 17, 2022May 18, 2022May 19, 2022May 20, 2022Average price
Azeri LT CIF$119.39$123.18$118.42$118.99$121.62$120.32
Azeri Light FOB Ceyhan$118.27$122.06$117.34$117.93$120.56$119.23
Urals (EX NOVO)$76.46$79.73$74.33$74.31$76.78$76.32
Brent Dated$113.14$116.51$111.33$111.35$113.82$113.23

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