Azerbaijani oil price drops to $78

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market decreased by $2.26, or 2.81%, to $78.07 per barrel, Report informs.

The Brent crude price traded at $76.70 per barrel.

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.