Economy 2020.06.25

Azerbaijani oil prices down

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The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, declined by $3.15 on June 24 compared to the previous price, and stood at $41.57 per barrel, Trend reports with reference to the source from the country’s oil and gas market.

The price of Azeri LT FOB Ceyhan made up $41.08 per barrel on June 24, which is $3.11 less compared to the previous price.

Azerbaijan has been producing Azeri LT since 1997 and exporting it via the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipeline, as well as by rail to the Georgian port of Batumi.

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

The price of URALS with shipment from the port reached $41.46 per barrel on June 24, showing a drop of $3.17 compared to the previous price.

The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $40.46 per barrel, having dropped by $3.15.

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