Baku: The price of Azerbaijani oil, known as ‘Azeri Light’ (CIF), has seen a significant increase on world markets.
According to Azeri-Press News Agency, the price per barrel of Azerbaijani oil has risen by 5.09 US dollars, marking a 5.6% increase, and now stands at 95.43 US dollars. This marks a notable change from its previous price of 90.34 US dollars per barrel.
It is important to highlight that Azerbaijan’s state budget for the current year had anticipated the average price of ‘Azeri Light’ crude oil per barrel to be 65 US dollars. The current market price significantly exceeds this estimate, indicating a positive development for the country’s economic projections.