Baku: Azerbaijani Azeri Light (CIF) crude oil has risen in price on global markets, APA-Economics reports. The price of a barrel of Azerbaijani oil increased by $3.27, or 3.58%, to $94.58. The previous price of Azerbaijani oil was $91.31.

According to Azeri-Press News Agency, Azerbaijan's state budget for this year was calculated based on an average price of $65 per barrel of Azeri Light crude oil.