Baku:The price of Azerbaijani Azeri Light (CIF) crude oil has experienced a decline in global markets, as reported by APA-Economics.

According to Azeri-Press news agency, the price fell by $3.05, or 2.62%, bringing it to $113.45 per barrel, down from the previous price of $116.5 per barrel.

It is noteworthy that Azerbaijan's state budget for the current year is based on an average price of $65 per barrel of Azeri Light crude oil.