Baku: The price of Azerbaijani oil branded Azeri Light has risen in the global markets, reporting an increase.
According to Azeri-Press News Agency, the price per barrel of Azerbaijani oil increased by $0.91 or 1.31%, reaching $70.12. This marks a notable rise from its previous price of $69.21 per barrel.
In the current year’s state budget of Azerbaijan, the average price of one barrel of Azerbaijani oil branded Azeri Light was projected at $70. This recent increase indicates that the market price has now slightly exceeded the country’s budget calculations.