BAKU: The price of a barrel of Azeri Light crude oil increased by $1.79, or 2.49%, settling at $73.66. This marks a significant rise in the value of Azerbaijani oil in global markets, reflecting changes in market dynamics and demand for this specific type of crude oil.

According to Azerbaijan State News Agency: Azeri Light crude oil reached its lowest level on April 21, 2020, at $15.81 per barrel. This historic low was a result of various factors impacting oil prices globally, including the COVID-19 pandemic that affected demand. In contrast, the highest price of Azeri Light was recorded in July 2008, when it soared to $149.66 per barrel, amidst different market conditions that drove prices upwards.