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Azerbaijani oil prices increase

The country exported oil and gas worth over $7.7 billion in 1H 2021. The average daily oil production in Azerbaijan was 740 000 and 700 000 barrels in the 1st and 2nd quarters of 2021 respectively.

Azerbaijani oil prices increase

Baku, October 25 - Neftegaz.RU. The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by $1.54 on October 22 compared to the previous price, settling at $86.69 per barrel, Trend reported referring to the source from the country's oil & gas market.

The price of Azeri LT FOB Ceyhan on October 22 amounted to $81.64 per barrel, also up by $1.77 as 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 made up $81.64 per barrel on Oct.22, which grew by $1.77 as compared to the previous price.

Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea rose by $1.27 compared to the previous price and made up $84.97 per barrel.

In August, the U.S. EIA has increased its forecast for Azerbaijan's average daily oil production for 2022 to 780,000 barrels.

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