Baku: The price of Azerbaijan's Azeri Light crude oil (CIF) has increased on global markets. The price of a barrel of Azerbaijani crude rose by $0.39, or 0.4%, to $98.58.

According to Azeri-Press News Agency, the previous price of Azerbaijani crude stood at $98.19 per barrel. It is noteworthy that Azerbaijan's 2026 state budget is based on an average Azeri Light oil price of $65 per barrel.