Weekly review of Azerbaijan's oil market

Weekly review of Azerbaijan's oil market

BAKU, Azerbaijan, November 26. Oil prices in Azerbaijan changed in different directions this week, TurkicWorld 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 13 cents (0.15 percent) compared to last week and amounted to $85.22 per barrel.

The maximum price during the reporting period was $86.86 per barrel, and the minimum – $83.17 per barrel.

Besides, this week, the average price of Azeri Light oil based on FOB in the Turkish port of Ceyhan was $83.56 per barrel, which is 16 cents (0.19 percent) more from the week before. The maximum price was $85.13 per barrel, and the minimum - $81.56 per barrel.

The average price of URALS crude oil decreased by $1.4 (2.06 percent) compared to last week and amounted to $66.64 per barrel. The maximum price for URALS reached $69.17 per barrel, and the minimum – $64.34 per barrel.

The average price for Brent crude oil fell by 53 cents (0.64 percent) and amounted to $81.57 per barrel. The maximum price for Brent reached $83.33 per barrel, and the minimum – $79.48 per barrel.

Oil type

November 20, 2023

November 21, 2023

November 22, 2023

November 23, 2023

November 24, 2023

Average price

Azeri LT CIF

$86.86

$85.73

$83.17

$84.66

$85.66

$85.22

Azeri Light FOB Ceyhan

$85.13

$84.02

$81.56

$83.06

$84.05

$83.56

Urals (EX NOVO)

$69.17

$67.43

$64.34

$65.63

$66.63

$66.64

Dated Brent

$83.33

$82.2

$79.48

$80.95

$81.91

$81.57