Baku: The price of Azerbaijani oil, specifically the Azeri Light (CIF) brand, has experienced a decline on world markets. The cost of a single barrel has decreased by $0.49, a reduction of 0.67%, bringing the new price to $72.18.

According to Azeri-Press News Agency, the previous price for a barrel of Azerbaijani oil was $72.67. It is noteworthy that the state budget of Azerbaijan for this year had projected the average price of a barrel of Azeri Light oil at $70.