Commodities
Azerbaijan's Azeri Light Oil Price Falls to $92.55 per Barrel
Azerbaijan's Azeri Light crude oil price has fallen to $92.55 per barrel on the world market, down by $1.42 or 1.51% from its previous value.
The decline in price is attributed to the current global market conditions, with Brent crude futures for October standing at $92.06 per barrel.
Azerbaijan's state budget for this year is based on an average oil price of $65 per barrel, which is significantly lower than the current market value.
The Azeri Light oil price has fluctuated over the years, with its lowest recorded price being $15.81 per barrel on April 21, 2020, and its highest price reaching $149.66 in July 2008.