The price of Azerbaijani oil of the Azeri Light (CIF) grade has decreased in global markets, APA-Economics reports.
The price of a barrel of Azerbaijani oil fell by $3.73, or 2.92%, to $124.14.
Note that the previous price of Azerbaijani oil was $127.87 per barrel.
Recall that Azerbaijan's state budget for this year is based on an average price of $65 per barrel of Azeri Light crude oil.