Baku: The price of Azerbaijan's Azeri Light crude oil (CIF) has increased on world markets, APA-Economics reports. The price of one barrel of Azerbaijani oil rose by $2.41, or 2.63%, to $93.91.

According to Azeri-Press news agency, the previous price of Azerbaijani oil stood at $91.50 per barrel. It is noteworthy that Azerbaijan's 2026 state budget is based on an average price of $65 per barrel for Azeri Light crude oil.