Baku: Azeri Light (CIF) Azerbaijani oil has increased in price on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil rose by $4.3, or 3.36%, to $132.35.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $128.05 per barrel. It is important to note that the average price of Azeri Light oil in Azerbaijan's state budget for this year is set at $65 per barrel.