While the oil prices on the world markets reclaimed some of the massive losses they had suffered in the previous week, rising on Monday, the price of Azerbaijani oil continued on the downward path it initiated last week.
On March 20, the price of Azeri LT CIF Augusta decreased by $0.65 compared to the previous price, totaling $74.75 per barrel whereas the price of Azeri LT FOB Ceyhan went down by $0.79 compared to the previous price, amounting to $72.58 per barrel, according to sources from the Azeri oil and gas market.
The price of URALS oil from the Russian Black Sea port of Novorossiysk that Azerbaijan also sells delivering it through the Baku-Novorossiysk pipeline declined by $0.51 as compared to the previous price with the price of URALS with shipment from the port equaling $38.27 per barrel on March 20.
At the same time, the price of the Brent Dated oil, which is produced in the North Sea, made up $71.71 per barrel, decreasing by $0.57 per barrel compared to the previous price.
Trend previously reported about the decrease in Azerbaijani oil prices last week.
The Azeri Light CIF oil, produced at the Azeri-Chirag-Gunashli (ACG) field, was selling for an average price of $78.22 per barrel, down by 8.94 percent ($7.68) compared to the previous price.
The minimum price for Azeri Light CIF oil amounted went down to $75.4 per barrel while the highest selling price reached was $83.6 per barrel.
The Azeri LT FOB Ceyhan was selling for an average price of $76.34 per barrel, down by 9.16 percent ($7.7) compared to the previous price, ranging from $73.37 per barrel at the minimum to 81.86 per barrel as the maximum price.
The URALS oil reached an average price of $41.55 per barrel, which is 12.84 percent lower than in the previous week, ranging from the maximum price of $46.64 per barrel to the minimum of $38.78 per barrel.
Meanwhile, the price of Brent Dated ranged from the minimum price of $72.28 to the maximum of $81.18 per barrel, settling at $75.45 per barrel on average.
