BAKU — The price of “Azeri Light” (CIF), a major Azerbaijani oil brand, has experienced a significant decrease in the global markets.

According to Azeri-Press News Agency, the cost per barrel of Azerbaijani oil dropped by $3.01 or 3.69%, now standing at $78.55. This reduction comes after the oil was priced at $81.56 just the day before, highlighting the volatility within the global oil markets.