Baku: The price of Azerbaijani oil, specifically the Azeri Light (CIF) brand, has seen an increase in the global markets, APA-Economics reports. The cost of a single barrel of Azerbaijani oil rose by 3.41 US dollars or 4.13% yesterday, reaching a new price of 82.58 US dollars.
According to Azeri-Press News Agency, this marks a notable rise from the previous price of 79.17 US dollars per barrel. This increase is significant when compared to Azerbaijan’s state budget for the current year, which calculated the average price of one barrel of Azeri Light oil at 70 US dollars.