Azerbaijani oil price falls below $88

The price of Azerbaijan's Azeri LT CIF oil in the world market has decreased by $0.65, or 0.7%, to $87.74 per barrel, Report informs.

May futures for Brent crude were traded at $85.34 per barrel.

The average oil price in Azerbaijan's state budget for 2023 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.