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Azerbaijani oil prices continue to decline

Azerbaijani oil prices continue to decline

Economy
21 August 2020, 14:13 124
The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by 51 cents on August 20 compared to the previous price, making up $44.94 per barrel, Trend reports with reference to the source from the country's oil and gas market.
The price of Azeri LT FOB Ceyhan amounted to $44.34 per barrel on August 20, which is also 51 cents 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 made up $43.12 per barrel on August 20, having slid by 55 cents.
The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $44.38 per barrel, down 66 cents compared to the previous price.