Baku: The price of Azerbaijani oil of the Azeri Light (CIF) brand has increased in global markets, as APA-Economics reports. The price of one barrel of Azerbaijani oil has risen by $0.53 or 0.7%, reaching $76.02.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was $75.49 per barrel. It is important to note that the average price of one barrel of Azeri Light oil has been calculated at $70 in Azerbaijan’s state budget for this year.