Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil declined on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil fell by $6.37, or 5.8%, to $102.73.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $109.10 per barrel. It should be recalled that Azerbaijan's 2026 state budget is based on an average Azeri Light oil price of $65 per barrel.