Baku: Azerbaijan's Azeri Light (CIF) crude oil has decreased in price on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil fell by $1.56, or 1.17%, to $130.79.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $132.35. It is important to note that the average price of one barrel of Azeri Light crude oil in Azerbaijan's state budget for this year has been set at $65.