Global market sees decline in Azerbaijani oil prices

The price of Azerbaijani oil has dropped on the global market, Azernews reports.

The cost of a single barrel of "Azeri Light" brand oil has declined by $0.69 or 0.82 percent, settling at $83.54.

It's worth mentioning that the lowest recorded price for "Azeri Light" oil was on April 21, 2020, at $15.81, while the highest was reached in July 2008, hitting $149.66.

The recent decrease in the price of Azerbaijani oil could be influenced by various factors, such as changes in global demand, geopolitical tensions, fluctuations in currency exchange rates, and decisions made by major oil-producing countries regarding production levels.