Baku: Azerbaijani Azeri Light (CIF) crude oil has experienced a decrease in price, trading at $92.55 per barrel on global markets. The recent price marks a decline of $1.42, or 1.5%, from the previous rate of $93.97 per barrel.

According to Azeri-Press news agency, this shift in pricing comes as Azerbaijan's state budget for the current year was calculated with an average price of $65 per barrel for Azeri Light crude oil. The decrease in the oil price may have implications for the country's economic forecasts and budgetary allocations.