Azerbaijani oil price drops below $124

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has decreased by $2.28 or 1.82% to $123.29 per barrel, Report informs.

Yesterday, the Brent crude price was $121.6 a barrel.

The average oil price in the state budget of Azerbaijan for 2022 was set at $50 a 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.