Azerbaijan sees increase in oil price
The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by $2.17 on July 9 compared to the previous price, settling at $76.77 per barrel.
The price of Azeri LT FOB Ceyhan amounted to $76.09 per barrel on July 9, also up by $2.17 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 stood at $72.6 per barrel on July 9, having increased by $2.53 as compared to the previous price.
Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea increased by $2.12 compared to the previous price and made up $77.01 per barrel.
(1 USD = 1.7 AZN on July 10)