Baku: The price of Azerbaijani oil, specifically the Azeri Light (CIF) brand, has seen an increase in the world markets. The price of one barrel has risen by USD 0.29 or 0.4%, bringing it to USD 72.43.
According to Azeri-Press news agency, the previous price of Azerbaijani oil was USD 72.14. This increase is notable given that the average price of one barrel of Azeri Light oil is calculated at USD 70 in Azerbaijan’s state budget for this year.