Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil has seen another increase in global markets, as reported by APA-Economics. The price of one barrel of Azerbaijani oil has risen by 0.38 U.S. dollars, or 0.34%, reaching a new level of 110.89 U.S. dollars.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was noted at 110.51 U.S. dollars. It is important to highlight that the average price of one barrel of Azeri Light crude oil was set at 65 U.S. dollars in Azerbaijan's state budget for the current year. The steady increase in oil prices may have significant implications for the country's economic planning and revenue forecasts.