Weekly review of oil prices in Azerbaijan

BAKU, Azerbaijan, August 30. The average prices
of Azeri Light CIF, Azeri Light FOB Ceyhan, Dated Brent, and Urals
crude oil decreased last week (August 24-28).

According to Trend's calculations based on data from the oil market
source, the price of Azeri Light CIF crude, produced at the
Azeri-Chirag-Gunashli field in Azerbaijan, dropped by $2.28, or
2.4%, compared to the previous week (August 17-21), to $92.75 per
barrel. Data shows that the maximum price for this grade of crude
oil during the week (August 24-28) was $95.13 per barrel, and the
minimum was $91.51.

The average price of Azeri Light crude oil on a FOB basis at the
Turkish port of Ceyhan was $89.39 per barrel, which is $2.13, or
2.3%, less than the previous week (August 17-21). During the week
(August 24-28), the maximum price was $91.62 per barrel, and the
minimum was $88.11.

The price of Urals crude oil fell by $1.78, or 2.6%, compared to
the previous week (August 17-21), standing at $65.70 per barrel.
During the week (August 24-28), the maximum price was $68.41, and
the minimum was $64.32.

The Dated Brent crude oil price averaged $89.80, down by $3.15,
or 3.4%, compared to the previous week (August 17-21). During the
week (August 24-28), the maximum price was $92.60 per barrel, and
the minimum was $88.53.