The price of Azeri LT FOB Ceyhan amounted to $30.28 per barrel on May 7, which is $1.84 more compared to May 6.
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 oil pipeline.
The price of URALS with shipment from the port amounted to $28.93 per barrel on May 7, which is $2.05 more compared to May 6.
The cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $25.1 per barrel, indicating an increase of $2.08.
More about: Azeri-Light