Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil has experienced a downturn in the global markets, now trading at $77.91 per barrel. This marks a decrease of $1.18, or 1.49%, from its previous value of $79.09 per barrel.

According to Azeri-Press News Agency, the current price shift is a significant indicator for the country's economic planning, especially considering that Azerbaijan's 2026 state budget is calculated with an average oil price of $65 per barrel for Azeri Light crude. The recent fluctuation in oil prices could influence economic strategies and financial forecasts within the nation.