The price of Azeri LT FOB Ceyhan, amounted to $53.80 per barrel on March 4, which is $0.81 more compared to March 3.
Azerbaijan has been producing Azeri LT since 1997 and exporting 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 through the Baku-Novorossiysk oil pipeline. The price of URALS with shipment from the port amounted to $48.23 per barrel on March 4, which is $0.36 more compared to March 3.
The cost of a barrel of Dated Brent, produced in the North Sea, amounted to $52.11 per barrel, showing an increase of $0.43.