Baku: The price of Azerbaijan’s Azeri Light (CIF) crude oil has increased on world markets. The price of one barrel of Azerbaijani oil rose by $1.05, or 1.68%, to $63.45.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was $62.40. It is noteworthy that in Azerbaijan’s state budget for this year, the average price of one barrel of Azeri Light crude oil is calculated at $70.