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 risen by USD 0.79 or 1.06%, reaching USD 75.49.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was USD 74.7. It is noteworthy that Azerbaijan’s state budget for this year has calculated the average price of one barrel of Azeri Light brand oil at USD 70.