Baku:Azeri Light crude oil has seen a price rise on global markets.

According to Azeri-Press news agency, the price of a barrel of Azerbaijan's Azeri Light (CIF) crude oil increased by $0.60, marking a 0.48% rise to reach $124.61.

Previously, the price of Azerbaijani oil stood at $124.01 per barrel. Azerbaijan's state budget for 2026 is based on an average Azeri Light crude oil price of $65 per barrel.