Azerbaijani oil prices increase

The price of Azeri LT CIF Augusta increased by $0.61, amounting to $83.94 per barrel on May 15, Azernews reports.

It should be noted that in 2022, the average selling price of one barrel of "Azeri Light" (CIF) brand oil was 103.58 US dollars. Last year, "Azeri Light" (CIF) oil increased in price by 44.6% compared to the indicator of 2021. The lowest price of "Azeri Light" oil was recorded on April 21, 2020 (US$15.81), and the maximum price was recorded in July 2008 (US$149.66).

In this year's state budget for Azerbaijan, the average price of one barrel of oil was calculated at 60 US dollars.