Azerbaijani oil price falls to $127

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has decreased by $8.87 or 6.52% to $127.12 per barrel, Report informs.

Yesterday, the Brent crude price was $113.93 a barrel.

The average oil price in the state budget of Azerbaijan for 2022 was set at $50 a 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.