Baku: The price of Azerbaijani oil of the Azeri Light (CIF) brand has increased in world markets. The price of 1 barrel of Azerbaijani oil has risen by $0.57 or 0.92%, reaching $62.4.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $61.83. It is noteworthy that in Azerbaijan’s state budget for this year, the average price of 1 barrel of Azeri Light brand oil is calculated at $70.