The price of Azeri LT FOB Ceyhan on Sept.1 amounted to $70.63 per barrel, having also dropped by 89 cents as 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 reached $67.61 per barrel on Sept.1, having fallen by 86 cents as compared to the previous price.
Meanwhile, the cost of a barrel of Brent Dated oil, produced in the North Sea dropped by $1.05 compared to the previous price and amounted to $71.36 per barrel.
More about: Azeri-Light