Baku: The price of Azerbaijani oil of the Azeri Light (CIF) brand has increased in global markets. The price of one barrel of Azerbaijani oil has risen by USD 1.25 or 1.8%, reaching USD 70.68.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was USD 69.43. It is noteworthy that in Azerbaijan’s state budget for this year, the average price of one barrel of Azeri Light oil is calculated at USD 70.