Baku: The price of Azerbaijani oil increased on the global market. Azeri Light crude oil saw a significant rise, increasing by $6.97, or 7.6 percent, to settle at $98.19 per barrel on Thursday.

According to Azerbaijan State News Agency, this marks a noteworthy development in the market for Azeri Light, which experienced an all-time low of $15.81 per barrel on April 21, 2020. The highest recorded price for Azeri Light was $149.66 per barrel in July 2008.