Azerbaijani oil price loses 5%

The price of Azerbaijan's Azeri LT CIF oil in the world market dropped by $3.93, or 5%, to $74.75 per barrel, Report informs.

December futures for Brent crude were traded at $74.46 per barrel.

The average oil price in Azerbaijan's state budget for 2024 was set at $75 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.