The price of Azerbaijani Azeri Light (CIF) crude oil has declined on global markets, APA-Economics reports.
The price of Azerbaijani oil fell by $9.66, or 7.66%, to $116.5 per barrel.
Note that the previous price of Azerbaijani oil was $126.16 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.