Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil has experienced an increase in the world markets. The latest reports indicate that the price of one barrel has risen by USD 1.04, or 1.61%, reaching USD 65.64.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was USD 64.6 per barrel. This increase signifies a notable shift in the market dynamics. It is important to highlight that Azerbaijan's state budget for the current year has set the average price of a barrel of Azeri Light crude oil at USD 65.

The recent rise in the oil price comes as a significant development, reflecting changes in global market trends. The increase may have implications for the country's economic projections and budgetary considerations.