Baku: In the global markets, the price of Azerbaijani oil, specifically the Azeri Light (CIF) brand, has seen a decrease, APA-Economics reports. The cost of a barrel of Azerbaijani oil dropped by 0.26 US dollars, or 0.32%, settling at 80.08 US dollars.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was recorded at 80.34 US dollars. This fluctuation in price comes amidst Azerbaijan’s state budget calculations, which had anticipated the average price per barrel of “Azeri Light” oil to be 70 US dollars for the year.