Azerbaijani oil price falls by $7

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has decreased by $6.99, or 8.59%, to $74.42 per barrel, Report informs.

The Brent crude price traded at $74.4 per barrel.

The average oil price in Azerbaijan's state budget for 2023 was set at $50 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.