Azerbaijani oil price falls by 5%

The price of a barrel of Azerbaijan's Azeri LT CIF oil in the world market decreased by $4.66, or 5.19%, to $85.19 per barrel, Report informs.

The Brent crude price traded at $87.45 per barrel.

The average oil price in Azerbaijan's state budget for 2022 was set at $85 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.