Azerbaijani oil price nears $89

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The price of a barrel of Azerbaijan’s Azeri LT CIF oil in the world market has declined by $4.84 or 5.79% to $88.45 per barrel, Report informs.

Yesterday, the Brent crude price was $84.47 a barrel.

The average oil price in the state budget of Azerbaijan for 2022 was set at $50 a 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.