Azerbaijani oil price settles above $87

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has increased by $2.69 or 3.17% to $87.52 per barrel, Report informs.

Yesterday, the Brent crude futures traded at $87.62 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.