Baku: Azeri Light (CIF) crude oil from Azerbaijan has increased in price on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil rose by $1.45, or 2.14%, to $69.31. This increase marks a significant change in the pricing of Azeri Light crude.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $67.86 per barrel. This recent rise in price comes in the context of Azerbaijan's state budget for the year, which was calculated based on an average price of $65 per barrel of Azeri Light crude. This price change could have implications for the country's economic projections and budgetary allocations.