Baku: Azerbaijani oil of the Azeri Light (CIF) brand has risen in price on world markets, APA-Economics reports. The price of one barrel of Azerbaijani oil increased by USD 0.48, or 0.73%, reaching USD 66.62.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was USD 66.14. This increase in oil price comes as a significant development, considering that in Azerbaijan's state budget for this year, the average price of one barrel of Azeri Light oil was calculated at USD 70. This suggests that the current market price is still trailing below the budgeted expectations, indicating ongoing market fluctuations.