Baku: The price of Azeri Light (CIF) branded Azerbaijani oil has experienced a minor decrease in global markets, as recently reported. The price per barrel has dropped by 0.01 US dollars, bringing it to 67.93 US dollars.

According to Azeri-Press News Agency, the previous price stood at 67.94 US dollars. The slight change in the oil price reflects ongoing fluctuations in the global oil market. It is noteworthy that Azerbaijan’s state budget for this year anticipates an average oil price of 70 US dollars per barrel.

The adjustment in the price of Azeri Light oil may have implications for the country’s economic planning, particularly in terms of revenue projections based on oil exports. The Azerbaijani government will likely monitor these developments closely as they continue to navigate the dynamics of the international oil market.