Baku: The price of Azerbaijani Azeri Light (CIF) crude oil has decreased on global markets. The price of one barrel of Azerbaijani oil fell by $3.95, or 4.36%, to $86.55.

According to Azeri-Press news agency, the previous price of Azerbaijani oil stood at $90.5 per barrel. The decline in price represents a significant change in the market dynamics for Azerbaijani oil.

It is important to note that the average price of one barrel of Azeri Light crude oil was calculated at $65 in Azerbaijan's state budget for this year. This indicates that despite the recent fall, the current price still remains above the state budget's forecasted average.