Baku: Azerbaijan's Azeri Light (CIF) crude oil price edged up slightly on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil increased by $0.93, or 1.33%, to $70.7. According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $69.77. In Azerbaijan's state budget for this year, the average price of one barrel of Azeri Light crude oil is calculated at $65. This recent uptick in price indicates a positive movement above the budgeted average.