Baku: The price of Azerbaijani oil under the Azeri Light (CIF) brand is witnessing an upward trend in the global markets. Azerbaijani oil per barrel has seen an increase of 1.18 US dollars or 1.7%, bringing the current price to 71.51 US dollars.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil was 70.33 US dollars. The recent rise in price marks a significant movement above the rate calculated in this year’s state budget of Azerbaijan, which projected the average price of a barrel of Azeri Light oil at 70 US dollars.