According to the BBC, the price of oil returns to pre-pandemic levels. According to today’s data, the price of a barrel of oil has exceeded $ 60, which is the first time since January 2020. In 2020, due to the pandemic, the rate had increased by 50% in the last few months. Demand for black gold is still underestimated by experts at this stage, although experts predict a rapid recovery in the oil industry.
The price of Azerbaijani LT CIF crude oil increased by $ 1.12 or 1.9%. The lowest price for Azerbaijani LT CIF oil was recorded on April 21, 2020 ($ 15.81), and the highest - in July 2008 ($ 149.66).