BAKU — The price of Azeri Light (CIF) crude oil has seen a decrease in the global marketplace.

According to a new release by Azeri-Press News Agency, the cost of a barrel of Azerbaijani oil has fallen by USD 0.62, settling at USD 92.25. For context, the average price of a barrel of Azeri Light brand oil stood at USD 103.58 in 2022. In that year, the price of "Azeri Light" (CIF) oil increased by 44.6% compared to the figures from 2021.