Price of Azerbaijani oil drops under $75

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $0.97, or 1.29%, to $74.43 per barrel, Report informs.

February futures for Brent crude were traded at $71.12 per barrel.

The average oil price in Azerbaijan's state budget for 2024 was set at $75 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.