Baku: The price of Azerbaijani oil has increased on the global market, APA-Economics reports. The price of a barrel of Azerbaijan's Azeri Light crude oil rose by $1.29, or 1.07%, to $122.37. Azerbaijani oil was previously traded at $121.08 per barrel.

According to Azeri-Press News Agency, it should be noted that Azerbaijan's 2026 state budget is based on an average oil price of $65 per barrel.