Azerbaijani oil price settles above $109

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has increased by $6.48 or 6.31% to $109.11 per barrel, Report informs.

Yesterday, the Brent crude price was $98.48 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.