Azerbaijani oil price settles above $78

The price of Azerbaijan's Azeri LT CIF oil in the world market increased by $1.78, or 2.3%, to $78.78 per barrel, Report informs.

March futures for Brent crude were traded at $76.18 per barrel.

The average oil price in Azerbaijan's state budget for 2024 was set at $70 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.