11:30 - 5.12.2022

---

December 5, Fineko/abc.az. The EU-established price limit for Russian oil in the amount of $60 a barrel comes into force from 5 December.

ABC.AZ reports that expert Ilham Shaban did not rule out that introduction of a price threshold for Russian oil will affect the markets.
"The first influence will be caused by emotional factors, because it is the opinions of both sides (the countries that made this decision and Russia) that contradict each other. Since the decision actually coincided with the closing of global stock markets on Friday, we will see its manifestations on Monday. But at electronic auctions on Friday, we observed a slight decline in oil prices: February futures for Brent crude oil were traded at about $85.5," the expert said.

As for Azerbaijan, the expert noted that the price of oil our country supplies to the market is not determined on international exchanges:
"Azerbaijani oil is guided by the daily spot price of Brent. But the prices of Azerbaijani oil may exceed the prices of Brent crude, as the demand for light grades of oil should increase in the first period, when sales of Urals crude in Europe will decrease. Here speech is about oil Ceyhan BTC Blend, which we supply to the world market through Turkiye.