Azerbaijani oil price drops below $80

The price of Azerbaijan's Azeri LT CIF oil in the world market has fallen by $1.37, or 1.7%, to $80.19 per barrel, Report informs.

March futures for Brent crude were traded at $75.94 per barrel.

The average oil price in Azerbaijan's state budget for 2023 was set at $60 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.