Baku: Azerbaijani oil is currently trading at $112.

According to Azeri-Press News Agency, the price of Azerbaijani oil branded Azeri Light (CIF) has decreased on world markets. The price of one barrel of Azerbaijani oil fell by 4.98 US dollars, or 4.2%, to 112.32 US dollars.

Previously, the price of Azerbaijani oil was 117.3 US dollars per barrel. The average price of one barrel of Azerbaijani oil branded Azeri Light was calculated at 65 US dollars in Azerbaijan's state budget for this year.