Azerbaijani oil price settles above $88

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market increased by $0.96, or 1.10%, to $88.04 per barrel, Report informs.

The Brent crude price traded at $86.40 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.