Industry and Energy

Home page

Industry and Energy

SOCAR: Last year average price of Azerbaijani oil was about US$ 67

08 January 2020 12:08 (UTC +04:00)

Last year the average price of one barrel of the oil of the "Azeri Light" brand was US$ 66.79, Ibrahim Ahmadov, Deputy Head of Public relations and events’ organization department of SOCAR told "APA-Economics".

"The year before last the average price of oil was higher", - I. Ahmadov noted.

According to him, the average price for Azeri Light oil in 2018 was $ 73,3 per barrel.

Thus, compared to 2018, the average price of Azeri Light crude oil last year became $ 6.51, or about 9% lower.

I. Ahmadov also stated that the peak of the "Azeri Light" price was recorded in April during 2019 at the level of 77,23, the lowest price level became 56,34 exactly a year ago, in January.

According to the report of U.S. Energy Information Administration (EIA), Brent crude oil averaged $ 64 per barrel in 2019 and this is $ 7 less than the average of 2018. The average price for WTI crude oil in the United States was $ 57 per barrel, which means a decrease of $ 7.