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 | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |