Baku: The price of Azerbaijan’s ‘Azeri Light’ (CIF) crude oil has increased on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil rose by $2.03, or 2.95%, reaching $70.95.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil stood at $68.92 per barrel. It should be noted that Azerbaijan’s state budget for this year was calculated based on an average price of $65 per barrel for Azeri Light crude.