Baku: Azerbaijani oil of the "Azeri Light" (CIF) brand has decreased in price on world markets, APA-Economics reports. The price of one barrel of Azerbaijani oil fell by $1.03, or 0.94%, to $108.16.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was $109.19. This development comes amidst a backdrop where the average price of one barrel of Azerbaijani oil of the Azeri Light brand was calculated at $65 in Azerbaijan's state budget for this year.