Azerbaijani oil prices decline in global markets

The price of a barrel of Azeri Light crude oil decreased by $1.03, or 1.35%, settling at $82.75, Azernews reports.

Azeri Light crude oil's price history showcases its volatility and significance in global markets. On April 21, 2020, it reached its lowest level at $15.81 per barrel, reflecting the tumultuous conditions experienced during the onset of the COVID-19 pandemic.

Conversely, its highest price was recorded in July 2008, soaring to $149.66 per barrel amidst heightened global demand and geopolitical tensions.