Azerbaijani oil prices falling

The price of a barrel of Azerbaijan’s Azeri LT CIF oil in the world market has decreased by $2.22 or 1.7% to $128.93 per barrel, Report informs.

August futures for Brent oil were trading at $122.01 per barrel.

The average oil price in Azerbaijan’s state budget for 2022 was set at $50 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.