Baku: The price of Azerbaijan's Azeri Light crude oil (CIF) has increased on global markets. The price of one barrel of Azeri Light crude rose by $4.82 to $98.73. Previously, the price of Azerbaijani crude stood at $93.91 per barrel.

According to Azeri-Press news agency, Azerbaijan's 2026 state budget is based on an average Azeri Light oil price of $65 per barrel. This recent increase in crude oil prices could have implications for the country's economic planning and budgeting strategies.