Baku: The price of Azeri Light (CIF) brand oil has experienced a decrease in the global markets, impacting the revenue from one of Azerbaijan’s key exports. The price per barrel has fallen by 1.03 US dollars, representing a 1.35% decline, bringing the cost down to 75.53 US dollars.
According to Azeri-Press News Agency, the previous trading session saw Azerbaijani oil priced at 76.56 US dollars per barrel. The current reduction in price highlights the ongoing fluctuations in the global oil market, which can have significant implications for Azerbaijan’s economy, heavily reliant on oil exports. The decrease comes amid broader market dynamics affecting oil prices worldwide.