Baku: The price of Azeri Light (CIF) branded Azerbaijani oil has decreased on world markets.

According to Azeri-Press News Agency, the price of 1 barrel of Azerbaijani oil has dropped by USD 2.17 or 3.27%, amounting to USD 64.11.

The previous price of Azerbaijani oil was USD 66.28. In Azerbaijan’s state budget for this year, the average price of 1 barrel of Azeri Light branded Azerbaijani oil is calculated at USD 70.