Baku:The cost of Azerbaijani Azeri Light (CIF) crude oil has seen an increase in global markets, as reported by APA-Economics. The price has risen by $1.01, or 0.8%, reaching $127.6 per barrel.

According to Azeri-Press news agency, the previous price of Azerbaijani oil was $126.59 per barrel. It is noteworthy that Azerbaijan's state budget for the current year is based on an average oil price of $65 per barrel for Azeri Light crude oil.