Baku: The price of Azerbaijan's Azeri Light (CIF) crude oil has seen a significant increase on world markets, as reported by APA-Economics. The price of Azerbaijani oil climbed by $2.68, marking a 3.02% rise, bringing it to $91.50 per barrel.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil was $88.82 per barrel. This surge in price comes as a notable development, especially considering that Azerbaijan's 2026 state budget is based on an average oil price of $65 per barrel. The historical context of Azeri Light prices includes an all-time low of $15.81 per barrel on April 21, 2020, and a record high of $149.66 per barrel in July 2008.