Italy reduced Azerbaijani oil imports by 19.9% ​​in January-September

In January-September 2024, Italy imported 6,948,224 tons of oil from Azerbaijan, which is 19.9% less than in the same period last year, Report informs referring to Italy's Ministry of Environment and Energy Security.

In January-September 2024, Azerbaijan supplied 3,553,483 tons of Azeri Blend oil (29.2% increase) and 3,394,741 tons of Azeri Light oil (1.74 times decrease).

During this period, Italy purchased Azeri Blend oil at $88.21 per barrel (compared to $86.60 per barrel in January-September 2023), and Azeri Light at $88.42 per barrel ($88.12). Overall, in nine months, Italy imported 42,259,120 tons of oil (7.2% decrease).

Thus, Azerbaijani oil accounted for 16.44% of supplies. In September, Italy imported 603,319 thousand tons of oil from Azerbaijan (2.2 times decrease).

This included 347,595 tons of Azeri Blend oil (18.4% decrease) and 255,524 tons of Azeri Light oil (3.4 times decrease). In September, Italy purchased Azeri Blend oil at $78.92 per barrel (compared to $95.09 per barrel in September 2023), and Azeri Light at $81.51 per barrel ($99.10).

Overall, in September, Italy imported 4,363,741 tons of oil (26.8% decrease), with Azerbaijani oil accounting for 13.8% of supplies.

In 2023, Azerbaijan became Italy's largest oil exporter, supplying about 11.3 million tons of oil, which is 25% more than in 2022. In 2023, Italy increased imports of Azeri Light oil by 17.8% compared to 2022 to 7.3 million tons, and Azeri Blend by 41.2% to 4 million tons.