Baku: Azerbaijani oil prices saw a rise of nearly 1% last week. The average price of a barrel of Azeri Light (CIF) oil on the global market was recorded at 69.49 US dollars from August 25 to 31. This marks an increase of 0.574 dollars or 0.83% compared to the average price of the previous week.
According to Azeri-Press News Agency, the price fluctuation saw its peak on Friday at 69.74 dollars per barrel, while the lowest price was recorded on Tuesday at 69.3 dollars per barrel. In the preceding week, from August 18 to 24, the average price stood at 68.916 US dollars.
It is noted that Azerbaijan’s state budget for this year has calculated the average price of one barrel of Azeri Light branded oil at 70 US dollars.