Baku: The price of Azerbaijani oil of the “Azeri Light” (CIF) brand has increased in world markets. The price per barrel rose by 0.7 US dollars or 1%, reaching 69.21 US dollars.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was recorded at 68.51 USD. The current increase in oil price brings it closer to the average price of 70 USD per barrel, which is the figure calculated in this year’s state budget of Azerbaijan for the “Azeri Light” brand.