Baku: The price of Azerbaijan's 'Azeri Light' (CIF) crude oil has seen a minor decrease in global markets. The price of one barrel of Azerbaijani oil has fallen by $0.03, or 0.04%, reaching $72.75.

According to Azeri-Press News Agency, the prior price of Azerbaijani oil stood at $72.78 per barrel. This slight change comes in the context of Azerbaijan's state budget for the year, which was calculated based on an average price of $65 per barrel of 'Azeri Light' crude.