Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil has seen a slight increase in global markets, as reported by APA-Economics. The price of one barrel of Azerbaijani oil rose by $0.79, or 1.14%, reaching $70.36.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $69.57 per barrel. It is noteworthy that in this year's state budget of Azerbaijan, the average price of one barrel of Azeri Light crude oil was calculated at $65.