The price of Azeri LT FOB Ceyhan amounted to $66.74 per barrel on May 13, decreasing by $2.04 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 settled at $65.2 per barrel on May 13, having lowered by $2.17 compared to the previous price.
Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea, amounted to $68.01 per barrel, down by $2.2 compared to the previous price.
More about: #oil