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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. |