Baku: The price of Azerbaijan’s Azeri Light (CIF) crude oil has decreased on global markets. The price of one barrel of Azerbaijani oil fell by $0.25 or 0.36%, settling at $69.87. This represents a slight decline from the previous price of $70.12 per barrel.

According to Azeri-Press News Agency, the current state budget of Azerbaijan has calculated the average price of one barrel of Azeri Light oil at $70. This recent decrease in price brings it slightly below the budgeted figure.