Baku: Azerbaijani Azeri Light (CIF) crude oil has experienced a decrease in price within global markets. The price per barrel has fallen by $3.01, or 3.89%, leading to a new price of $74.36.

According to Azeri-Press News Agency, this marks a reduction from the previous price of $77.37 per barrel. The decrease in oil price is noteworthy given the state budget of Azerbaijan for this year, which had calculated the average price of one barrel of Azeri Light crude oil at $65.