Azerbaijani oil drops over 12%

The price of Azerbaijan's Azeri LT CIF crude oil traded in the financial markets has fallen by $6.72 or 12.47%, settling at $47.16 per barrel, Report informs.

Notably, the record low of Azeri LT CIF was registered in December 2001 ($19.15), and the all-time high was recorded in July 2008 ($149.66).