Baku: Azerbaijan’s Azeri Light (CIF) crude oil price declined on global markets, APA-Economics reports. The price of Azerbaijani oil per barrel fell by USD 1.28, or 2%, to USD 62.45.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at USD 63.73. In Azerbaijan’s state budget for this year, the average price of Azeri Light crude oil per barrel was calculated at USD 70.