Baku: The price of Azerbaijani oil of the Azeri Light (CIF) brand has decreased in world markets. The price of one barrel of Azerbaijani oil has dropped by 1.82 US dollars or 2.72%, amounting to 65.21 US dollars.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil was 67.03 US dollars. The decline in oil prices comes as a significant development given that Azerbaijan’s state budget for the current year has been calculated with an average oil price of 70 US dollars per barrel for the Azeri Light brand. This discrepancy could have implications for the country’s financial projections and economic planning.