The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has increased by $0.79 or 0.67% to $118.57 per barrel, Report informs.
Yesterday, the Brent crude price traded at $110.17 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.