Azerbaijani oil prices – review for February 4-8

Business

10:20 | 11.02.2019

Azerbaijani oil prices – review for February 4-8

The average price of the AZERI LT CIF oil, produced at Azerbaijan’s Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $63.79 per barrel on Feb. 4-8, or $1.14 more than last week, Trend reports.

The maximum price for AZERI Light during the recording period was $64.38 per barrel, and the minimum price was $63 per barrel.

Azerbaijan sells light oil via the Turkish port of Ceyhan and Georgia’s Batumi and Supsa. It is being delivered to Ceyhan via the Baku-Tbilisi-Ceyhan pipeline, and to Georgia via the Baku-Supsa pipeline, as well as by rail.

Last week, the price for URALS (EX-NOVO), which Azerbaijan sells at the Russian port of Novorossiysk, was $59.72 per barrel, or $0.22 more than the prices for the preceding week.

The maximum price for URALS during the period of Feb. 4-8 was $60.24 per barrel, and the minimum price was $58.79 per barrel. The Azerbaijani oil sold in the Russian terminal is delivered there via the Baku-Novorossiysk pipeline.

The price for a barrel of benchmark Brent Dated stood at $61.85 last week, or $0.29 more than the previous price.

The maximum price for Brent was $62.31 per barrel, and the minimum price was $60.97 per barrel.

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