Baku: The price of Azerbaijani oil, branded as Azeri Light (CIF), has seen a decrease in the global markets. The current price for a barrel of this oil has dropped by $3.57, or 3.24%, bringing it down to $106.48.

According to Azeri-Press News Agency, the previous pricing for Azerbaijani oil was at $110.05 per barrel. This recent shift in pricing is noteworthy when compared to the average price of one barrel of Azerbaijani oil, which was set at $65 in Azerbaijan's state budget for the current year.