Baku: The price of Azerbaijani “Azeri Light” (CIF) crude has declined by nearly $4 on global markets.
According to Azeri-Press News Agency, the price of one barrel of Azerbaijani oil has decreased by $3.54, or 5.2%, settling at $64.11. This marks a significant drop from the previous price of $67.65.
The decline in price reflects ongoing fluctuations in the global oil market, impacting the revenue generated from Azerbaijani oil exports. The adjustment in pricing may influence economic strategies and future projections related to oil production and exportation.