Baku: Azeri Light (CIF) Azerbaijani oil has risen in price on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil increased by 0.51 U.S. dollars, or 0.7%, reaching 69.39 U.S. dollars.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was 68.88 U.S. dollars. This increase in price indicates a positive shift in the market value of Azerbaijan's oil.

The report also highlights that the average price of one barrel of Azeri Light crude oil was calculated at 65 U.S. dollars in Azerbaijan's state budget for this year. This current price exceeds the budgeted average, reflecting changes in global oil market dynamics.