Baku: Azeri Light (CIF) Azerbaijani oil has experienced a price increase on world markets, APA-Economics reports. The price per barrel of Azerbaijani oil rose by USD 2.93 or 2.58%, reaching USD 116.41. This marks a significant change from its previous price of USD 113.48.

According to Azeri-Press News Agency, the average price of one barrel of Azeri Light oil was estimated at USD 65 in Azerbaijan's state budget for the current year. This recent rise in oil prices highlights a notable shift from the budgeted estimates, reflecting changes in global market conditions.