Baku: The price of Azerbaijani oil, specifically the Azeri Light (CIF), has experienced an increase in global markets. The cost of one barrel of this oil has risen by 1.82 US dollars, marking a 1.6% increase that brings the new price to 114.14 US dollars.

According to Azeri-Press News Agency, the previous price for a barrel of Azerbaijani oil was 112.32 US dollars. This recent price change highlights a significant deviation from the average price of 65 US dollars per barrel that was accounted for in Azerbaijan's state budget for the current year. The increase in oil prices is likely to impact economic forecasts and budgetary considerations within the country.