Baku: The price of Azerbaijani oil branded Azeri Light (CIF) has decreased on world markets, APA-Economics reports. The price of one barrel of Azerbaijani oil dropped by USD 0.86 or 1.28%, falling to USD 66.29.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil was USD 67.15. The changes in oil prices on the global market can impact the revenues generated from oil exports, which play a significant role in Azerbaijan’s economy. The fluctuation in prices is often influenced by various factors including global demand, production levels, and geopolitical events.