Azerbaijani oil price settles above $98

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market has risen by $0.77 or 0.79% to $98.23 per barrel, Report informs.

Brent crude is currently trading at $91.03 a barrel.

The average oil price was set at $50 a barrel in the state budget of Azerbaijan for 2022.

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.