Azerbaijani oil price falls by about $1

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.74, or 0.84%, to $87.70 per barrel, Report informs.

The Brent crude price traded at $85.58 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.