Azerbaijani oil price drops $1.5

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has decreased by $1.57 or 1.6% to $98.19 per barrel, Report informs.

On the stock exchanges, October futures for Brent crude are traded at $98.15.

The average oil price in Azerbaijan's state budget for 2022 was set at $85 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.