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Global market sees decline in Azerbaijani oil prices

4 June 2024 11:33 (UTC+04:00)
Global market sees decline in Azerbaijani oil prices
Nazrin Abdul
Nazrin Abdul
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The price of Azerbaijani oil has dropped in the global market, Azernews reports.

A barrel of "Azeri Light" oil now stands at $79.25, marking a decline of $3.5 or 4.2 percent.

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

Such fluctuations underscore the inherent volatility within the energy sector and its profound implications for global economies, industries, and geopolitical relations. As market participants navigate these shifts, attention remains focused on emerging trends and their potential ramifications for the broader economic landscape.

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