Baku: The price of Azerbaijani oil, branded as Azeri Light (CIF), has seen an increase in global markets. The price of one barrel of this oil has risen by 1.09 US dollars, or 1.63%, reaching a new price of 67.84 US dollars.

According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at 66.75 US dollars per barrel. It is noteworthy that the average price of one barrel of Azeri Light oil is calculated at 70 US dollars in Azerbaijan’s state budget for the current year.