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Azerbaijani Oil Prices Rebound

Azerbaijani Oil Prices Rebound 19-Sept

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Azerbaijani Oil Prices Rebound Azeri light oil rose $1.91 to $98.64 a barrel on a CIF basis in the Italian port of Augusta on Sept. 12, Trend Reports, citing sources from the country’s oil and gas market, said.

Azeri Light also rose $1.91 to $97.75 a barrel on an FOB basis in the Turkish port of Ceyhan.

Azerbaijani Oil Prices Rebound

Azerbaijan also sells its URALS oil from the Russian Black Sea port of Novorossiysk, transporting it through the Baku-Novorossiysk pipeline. The price of URALS with shipment from the port is equal to $79.72 per barrel, which is $1.94 higher than the previous price.

Meanwhile, the price of a barrel of dated Brent oil produced in the North Sea rose by $1.58 from the previous price to $93.6 per barrel on September 12.

The official rate on September 13 is 1.7 AZN/1 USD.

Azerbaijani Oil Prices Rebound

Azerbaijani Oil: It refers to crude oil that is extracted from oil fields within the country of Azerbaijan. Azerbaijan is one of the oil producing countries, and its oil industry plays an important role in its economy.

Prices: In this context, “prices” specifically refer to the market value or price per barrel or unit of Azerbaijani crude oil. The price of oil is affected by a variety of factors, including global supply and demand, geopolitical events and economic conditions.

Rebound: The term “rebound” indicates that Azerbaijani oil prices have experienced an increase or recovery after a period of decline or stagnation. A recovery in oil prices generally indicates a positive trend for oil producers.

In more comprehensive detail, the statement revealed that Azerbaijan’s oil, an important economic resource for the country, had seen its market price decline but is now showing signs of recovery. This rebound can be caused by a variety of factors, such as increased global oil demand, geopolitical developments affecting oil markets, changes in production, or supply disruptions in other oil-producing regions.

For Azerbaijan, fluctuations in oil prices can have significant economic implications, as the country’s budget and revenues are closely tied to oil exports. A recovery in oil prices will generally be seen as a positive development for Azerbaijan’s economy, likely leading to increased revenues and economic stability.

Azerbaijani Oil Prices Rebound

It is important to note that oil prices can be highly volatile, and their movements can have far-reaching effects on both oil-producing countries like Azerbaijan and the global economy. Monitoring and analysis of oil price trends is therefore of great importance to various stakeholders including governments, investors and energy consumers.

WTI Crude92.80+1.32+1.44%(10 Minutes Delay)
Brent Crude95.12+0.69+0.73%(10 Minutes Delay)
Murban Crude96.17-0.19-0.20%(15 Minutes Delay)
Natural Gas2.742+0.014+0.51%(11 Minutes Delay)
Gasoline2.694-0.004-0.14%(11 Minutes Delay)
Heating Oil3.289+0.001+0.02%(13 Minutes Delay)
Mars US91.63+0.71+0.78%(10 Hours Delay)
Opec Basket96.87+1.17+1.22%(4 days Delay)
Canadian Crude Index53.57-1.23-2.24%(5 months Delay)
DME Oman95.53+0.25+0.26%(7 Hours Delay)
Mexican Basket87.50+2.26+2.65%(1 day Delay)
Indian Basket95.45+1.28+1.36%(4 days Delay)
Urals77.43+0.69+0.90%(1 day Delay)
Western Canadian Select72.13+0.56+0.78%(2 Hours Delay)
Dubai93.56+0.11+0.11%(4 days Delay)
Brent Weighted Average93.79+0.57+0.61%(4 days Delay)
Louisiana Light93.38+2.59+2.85%(4 days Delay)
Domestic Swt. @ Cushing87.25+0.61+0.70%(4 days Delay)
Giddings81.00+0.61+0.76%(4 days Delay)
ANS West Coast96.42+1.72+1.82%(5 days Delay)
Gulf Coast HSFO83.61-0.22-0.26%(4 days Delay)
Ethanol2.161+0.000+0.00%(10 Hours Delay)
Dutch TTF Natural Gas11.42+0.30+2.72%(4 days Delay)
LNG Japan/Korea Marker13.33-0.04-0.27%(4 days Delay)

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, rose 53 cents to $62.77 per barrel on Feb. 12 from the previous price, Trend reports citing sources in the country’s oil and gas industry. The gas market.

Azeri LT FOB Ceyhan price was $62.14 per barrel on February 12, up 51 cents from the previous price.

Azerbaijan has been producing Azeri LT since 1997 and exporting it along the Baku-Tbilisi-Ceyhan (BTC) and Baku-Supsa Western Export Pipelines, 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, transporting it through the Baku-Novorossiysk pipeline.

URALS with shipment from the port reached $59.55 a barrel on February 12, up 26 cents from the previous price.
A barrel of North Sea Brent crude oil settled at $62.05 a barrel, up 73 cents from the previous price.

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