Azerbaijan’s Azeri Light Crude Slips Over 2% on Global Market

photo: Liberty Street Economics

Azerbaijan’s Azeri Light Crude Slips Over 2% on Global Market

The price of Azerbaijani Azeri Light crude oil has declined on the global market, falling by $1.62, or 2.13 per cent, to $74.40 per barrel.

This recent decrease reflects ongoing market fluctuations amid global supply and demand dynamics, The Caspian Post reports, citing local media.

For historical context, Azeri Light crude hit its lowest price on April 21, 2020, when it fell to $15.81 per barrel amid the COVID-19 pandemic. Conversely, the highest price was recorded in July 2008, reaching $149.66 per barrel during a peak period of global oil demand.

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The price of Azerbaijani Azeri Light crude oil has declined on the global market, falling by $1.62, or 2.13 per cent, to $74.40 per barrel.