Baku: Azerbaijan's Azeri Light (CIF) crude oil has experienced a price increase in global markets, APA-Economics reports. The price per barrel of Azerbaijani oil has increased by 1.71 US dollars, or 2.5%, bringing the current price to 68.34 US dollars.

According to Azeri-Press News Agency, this marks a rise from the previous price of 66.63 US dollars per barrel. The increase in oil prices is noteworthy, given that Azerbaijan's state budget for this year had calculated the average price of one barrel of Azeri Light crude oil at 65 US dollars.