Azerbaijani oil price drops below $79

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.77, or 1%, to $78.48 per barrel, Report informs.

July futures for Brent crude were traded at $77.53 per barrel.

The average oil price in Azerbaijan's state budget for 2024 was set at $60 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.