Azeri Light
Azeri Light Price
| Date | Price US$ per bbl | Price US $ per MT | Long Tons | US Gallons,$ |
|---|---|---|---|---|
| 2023-02-17 | $93 | 679 | 690 | 2.21 |
| 2023-02-16 | $94 | 692 | 703 | 2.25 |
| 2023-02-15 | $93 | 684 | 695 | 2.22 |
| 2023-02-14 | $95 | 695 | 706 | 2.26 |
| 2023-02-13 | $94 | 690 | 701 | 2.24 |
| 2023-02-10 | $93 | 679 | 691 | 2.21 |
| 2023-02-09 | $93 | 684 | 696 | 2.22 |
| 2023-02-08 | $92 | 674 | 685 | 2.19 |
| 2023-02-07 | $90 | 663 | 674 | 2.15 |
| 2023-02-06 | $89 | 649 | 660 | 2.11 |
| 2023-02-03 | $91 | 665 | 675 | 2.16 |
| 2023-02-02 | $92 | 671 | 682 | 2.18 |
| 2023-02-01 | $94 | 689 | 700 | 2.24 |
| 2023-01-31 | $93 | 680 | 691 | 2.21 |
| 2023-01-30 | $95 | 693 | 705 | 2.25 |
| 2023-01-27 | $96 | 705 | 716 | 2.29 |
| 2023-01-26 | $95 | 695 | 706 | 2.26 |
| 2023-01-25 | $95 | 697 | 708 | 2.26 |
| 2023-01-24 | $96 | 707 | 719 | 2.3 |
| 2023-01-23 | $96 | 704 | 716 | 2.29 |
| 2023-01-20 | $97 | 708 | 720 | 2.3 |
| 2023-01-19 | $95 | 693 | 704 | 2.25 |
| 2023-01-18 | $97 | 710 | 722 | 2.31 |
| 2023-01-17 | $95 | 697 | 708 | 2.26 |
| 2023-01-16 | $95 | 695 | 706 | 2.26 |
| 2023-01-13 | $94 | 688 | 699 | 2.23 |
| 2023-01-12 | $93 | 681 | 692 | 2.21 |
| 2023-01-11 | $90 | 658 | 668 | 2.14 |
| 2023-01-10 | $90 | 658 | 669 | 2.14 |
| 2023-01-06 | $89 | 655 | 666 | 2.13 |
Azeri Light Historical price
- In 2019 maximum price $73 per bbl (2019-12-26)
- In 2020 maximum price $55 per bbl (2020-12-25)
- In 2021 maximum price $81 per bbl (2021-12-24)
- In 2022 maximum price $95 per bbl (2022-12-26)
- In 2023 maximum price $93 per bbl (2023-02-17)
Understanding Azerbaijan Light Crude Oil
Azerbaijan is known to be a major producer of oil and natural gas and has played a crucial role in the global energy market for several decades. Azerbaijan light crude oil is one of the major products of the country's oil industry and has been widely used as a benchmark for oil prices in the Caspian Sea region. In this article, we will dive into the characteristics and importance of Azerbaijan light crude oil.
What is Azerbaijan Light Crude Oil?
Azerbaijan light crude oil is a high-quality and low-sulfur oil that is extracted from the offshore oil fields of the Caspian Sea. This type of crude oil is highly valued by the international oil market due to its low sulfur content, which makes it easier and more cost-effective to refine into high-quality fuels and other petroleum products. Azerbaijan light crude oil also has a low density and high API gravity, which makes it easier to transport compared to heavier crude oils.
Characteristics of Azerbaijan Light Crude Oil
The unique characteristics of Azerbaijan light crude oil make it a highly sought-after product in the global oil market. Some of the key features of this oil include:
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Low sulfur content: With a sulfur content of less than 0.5%, Azerbaijan light crude oil is considered to be a "sweet" crude oil, which makes it easier to refine into high-quality fuels and other petroleum products.
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High API gravity: The API gravity of Azerbaijan light crude oil is between 33 and 40, which is considered to be a high API gravity for crude oil. This high API gravity means that the oil is less dense and easier to transport.
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Low density: The low density of Azerbaijan light crude oil makes it easier to transport through pipelines and reduces the cost of transportation compared to heavier crude oils.
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High quality: The high quality of Azerbaijan light crude oil makes it a desirable product for refineries, as it requires less processing to refine into high-quality fuels and other petroleum products.
Importance of Azerbaijan Light Crude Oil
Azerbaijan light crude oil is an important product in the global energy market for several reasons, including:
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Benchmark for oil prices: Azerbaijan light crude oil is widely used as a benchmark for oil prices in the Caspian Sea region, and its price is closely watched by the international oil market.
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Major contributor to the global oil market: Azerbaijan is one of the major producers of oil and natural gas in the world, and Azerbaijan light crude oil is a significant product of the country's oil industry.
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High demand: Due to its high quality and low sulfur content, Azerbaijan light crude oil is in high demand by the international oil market, and its production and export play a crucial role in the global energy market.
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Strategic location: Azerbaijan's strategic location at the crossroads of Europe and Asia makes it a crucial transit route for oil and natural gas exports from the Caspian Sea region to international markets.
In conclusion, Azerbaijan light crude oil is a high-quality and low-sulfur oil that is widely used as a benchmark for oil prices in the Caspian Sea region. Its unique characteristics, including low sulfur content, high API gravity, and low density, make it a highly sought-after product in the global oil market. As a major producer of oil and natural gas, Azerbaijan's role in the global energy market is crucial, and its production and export of Azerbaijan light crude oil play an important role in the international energy market.
List of Benefits of Azerbaijan Light Crude Oil
- Low sulfur content
- High API gravity
Frequently Asked Questions about Azerbaijan Light Crude Oil
Here are some of the most common questions that people ask about Azerbaijan light crude oil:
1. What is the price of Azerbaijan light crude oil?
The price of Azerbaijan light crude oil is closely monitored by the international oil market, and it fluctuates based on a variety of factors, such as global supply and demand, geopolitical tensions, and changes in the global economy. As of [current date], the price of Azerbaijan light crude oil is [price per barrel], which is [higher/lower] than the global average.
2. How is Azerbaijan light crude oil extracted?
Azerbaijan light crude oil is extracted from the offshore oil fields of the Caspian Sea using a variety of methods, including drilling, hydraulic fracturing, and horizontal drilling. The oil is then transported to refineries where it is processed into high-quality fuels and other petroleum products.
3. What makes Azerbaijan light crude oil different from other types of crude oil?
Azerbaijan light crude oil is unique in that it has a low sulfur content, high API gravity, and low density, which make it easier to refine into high-quality fuels and other petroleum products. Additionally, Azerbaijan's strategic location at the crossroads of Europe and Asia makes it a key transit route for oil and natural gas exports from the Caspian Sea region to international markets.
4. What is the role of Azerbaijan in the global energy market?
Azerbaijan is a major producer of oil and natural gas and plays a crucial role in the global energy market. Its production and export of Azerbaijan light crude oil, in particular, is a significant contributor to the international oil market, as it is a highly sought-after product due to its unique characteristics and high quality.
5. How is Azerbaijan light crude oil transported to international markets?
Azerbaijan light crude oil is transported to international markets through a variety of methods, including pipelines, railroads, and tankers. The transportation method used depends on the destination of the oil and the infrastructure available in that region. Azerbaijan is currently working on expanding its transportation infrastructure to increase its capacity to export oil and natural gas to international markets.
Conclusion
Azerbaijan light crude oil is a highly valued product in the global oil market due to its unique characteristics, such as low sulfur content, high API gravity, and low density. As a major producer of oil and natural gas, Azerbaijan's role in the global energy market is crucial, and its production and export of Azerbaijan light crude oil plays an important role in the international energy market. By understanding the characteristics and importance of Azerbaijan light crude oil, we can better appreciate its impact on the global oil market and the role that Azerbaijan plays in the energy industry.
Sources of Information
At Cride-oilprices.com, we are committed to providing accurate and up-to-date information about Azerbaijan light crude oil and the global energy market. The information presented in this article is based on a variety of reliable sources, including:
- The Energy Information Administration (EIA)
- The Organization of the Petroleum Exporting Countries (OPEC)
- The State Oil Company of Azerbaijan Republic (SOCAR)
We also consulted a number of academic papers and industry reports to ensure the accuracy and comprehensiveness of the information presented here.
For readers who are interested in learning more about Azerbaijan light crude oil and the global energy market, we recommend visiting the following websites:
- Energy Information Administration (EIA)
- Organization of the Petroleum Exporting Countries (OPEC)
- State Oil Company of Azerbaijan Republic (SOCAR)
These websites provide a wealth of information about the energy industry, including news, analysis, and data on oil and natural gas production, consumption, and prices. By staying informed about the latest developments in the global energy market, we can make more informed decisions about energy policy, investment, and consumption.
