Baku: The price of Azerbaijani oil, specifically the Azeri Light (CIF) brand, has decreased on global markets. The latest figures indicate a reduction in the price of one barrel by $0.2, or 0.3%, bringing the cost down to $69.19.

According to Azeri-Press news agency, the price of Azerbaijani oil previously stood at $69.39 per barrel. This decline comes in contrast to Azerbaijan’s state budget for the current year, which had calculated the average price of one barrel of Azeri Light oil at $70. This development may impact economic projections and budgetary allocations in the country.