The price of a barrel of Azerbaijan’s Azeri LT CIF oil in the world market has decreased by $0.16 or 0.12% to $128.77 per barrel, Report informs.
August futures for Brent oil were trading at $122.02 per barrel.
The average oil price in Azerbaijan’s state budget for 2022 was set at $50 per barrel.
The lowest price for Azeri Light was recorded on April 21, 2020 ($15.81), and the all-time high of $149.66 was fixed in July 2008.