Azeri oil hits record low, drops below $16 a barrelApril 22, 2020 - 17:40 AMT PanARMENIAN.Net - Azerbaijani oil price has dropped in world markets, hitting a record low. The price for a barrel of Azeri Light crude oil fell $5.49 to stand at $15.81, local media report. Azeri LT CIF slumped to a record low on April 1 ($16.53), while the all-time high was recorded in July 2008 ($149.66). Azerbaijani Energy Minister Parviz Shahbazov has called on oil producers outside the OPEC+ format to commit themselves to reduce oil production. Shahbazov's press service said the minister had taken part in an unofficial video conference with the participation of several OPEC+ countries. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |