Baku: In global markets, Azerbaijani oil marked as “Azeri Light” (CIF) has dropped by nearly $4, APA-Economics reports. The price of one barrel of Azerbaijani oil has decreased significantly by $3.85 or 6.2%, reaching a new price point of $69.64.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil was noted at $73.49. The sharp decrease in price reflects a notable shift in the global oil markets, impacting the valuation of Azerbaijani crude oil.