Baku: The price of Azerbaijani oil brand Azeri Light (CIF) has experienced a decline of more than $1 on the global markets.

According to Azeri-Press News Agency, the price per barrel of Azerbaijani oil has decreased by $1.33 or 1.82%, resulting in a new price of $71.37. The previous price stood at $72.70, reflecting a notable shift in the market value of this oil brand.