Baku: The price of Azerbaijani oil branded Azeri Light (CIF) has decreased on world markets, with current trading around $109. A significant decline has been observed, as the price of one barrel of Azerbaijani oil fell by $9.57 or 8.07%, bringing it down to $108.99.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $118.56. This recent decrease marks a notable shift in the market. It is important to note that Azerbaijan's state budget for this year had calculated the average price of one barrel of Azerbaijani oil branded Azeri Light at $65. The current pricing represents a significant deviation from these budgetary expectations.