Accra:According to Azeri-Press news agency, the price of Azerbaijani oil, specifically the Azeri Light (CIF) grade, has decreased in global markets.

The price per barrel fell by $3.73, or 2.92%, bringing it down to $124.14. This marks a decrease from the previous price of $127.87 per barrel.

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