The price of Azerbaijani Azeri Light (CIF) crude oil has declined on global markets, APA-Economics reports.
The price of Azerbaijani oil decreased by $2.78, or 2.34%, to $116.26 per barrel.
Note that the previous price of Azerbaijani oil stood at $119.04 per barrel.
Recall that Azerbaijan's state budget for this year was calculated based on an average price of $65 per barrel of Azeri Light crude oil.