Baku:The price of Azerbaijani oil, specifically the “Azeri Light” (CIF) grade, has seen an increase in global markets, as reported by APA-Economics. The cost of one barrel has risen by $2.93, which represents a 2.4% increase, bringing the new price to $125.42.
According to Azeri-Press news agency, the previous price of Azerbaijani oil was $122.49. It is noteworthy that the state budget of Azerbaijan for this year is predicated on an average oil price of $65 per barrel for “Azeri Light” crude oil.