Azerbaijani oil price drops by nearly $2

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $1.95, or 2.26%, to $71.40 per barrel, Report informs.

May futures for Brent crude were traded at $69.83 per barrel.

The average oil price in Azerbaijan's state budget for 2025 was set at $70 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.