In January-November 2024, Azerbaijan imported 1.724 million tons of crude oil worth $948.86 million, the monthly bulletin “Foreign Trade Relations of Azerbaijan,” prepared by the State Statistics Committee of the Republic of Azerbaijan.
Based on the official statistics, Caspian Barrel calculated that the average cost of 1 ton of imported oil was $550.38, or about $74.37 per barrel. During the same period in 2023, Azerbaijan imported 1.782 million tons of oil worth $994.04 million. The average cost of 1 ton of imported oil was $557.68, or about $75.36 per barrel.
In the first 11 months of 2024, Azerbaijan imported 1.528 million tons ($73.68 per barrel) of crude oil from Russia – compared to 1.168 million tons in the same period of 2023.
Azerbaijan’s oil purchases from Turkmenistan during the reporting period totaled 161.4 thousand tons ($76 per barrel) – compared to 551.68 thousand tons in the same period of 2023.
In January-November 2024, Azerbaijan also imported 34.6 thousand tons of oil from Kazakhstan ($89.18 per barrel). In the same period of 2023, these volumes were at 62.1 thousand tons.
