Baku: The price of Azerbaijani oil of the Azeri Light (CIF) brand has increased in world markets, APA-Economics reports. The price of one barrel of Azerbaijani oil has increased by $1.76 or 2.53%, reaching $71.22.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was $69.46. This recent increase in the price of Azeri Light oil reflects the market’s response to various economic factors influencing supply and demand in the global oil industry.

Recall that the average price of one barrel of Azeri Light oil has been calculated at $70 in Azerbaijan’s state budget for this year. This suggests that the current market price is slightly above the anticipated average, indicating potential adjustments in fiscal expectations.