Baku: The price of Azerbaijan's 'Azeri Light' (CIF) crude oil has risen in global markets.

According to Azeri-Press News Agency, the price of Azerbaijani oil increased by $2.99, or 2.5%, reaching $124.24 per barrel. This marks a notable rise from the previous price, which stood at $121.25 per barrel.

It is important to recall that the average price of Azerbaijani oil in the state budget for this year was set at $65 per barrel.