Baku:The price of Azeri Light crude oil declined by $3.05, settling at $113.45 per barrel on Wednesday.

According to Azerbaijan State News Agency, this marks a 2.62 percent reduction in the price of Azeri Light. The historical low for this crude oil was recorded at $15.81 per barrel on April 21, 2020, whereas its peak price reached $149.66 per barrel in July 2008.