Azerbaijani oil price drops below $74

The price of Azerbaijan's Azeri LT CIF oil in the world market decreased by $1.64, or 2.18%, to $73.72 per barrel, Report informs.

January futures for Brent crude were traded at $71.83 per barrel.

The average oil price in Azerbaijan's state budget for 2024 was set at $75 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.