Baku: The price of Azerbaijan’s Azeri Light (CIF) crude oil has experienced a notable increase in global markets, with the cost rising by nearly 2%. The price of one barrel of Azerbaijani oil rose by $1.95 or 1.7%, reaching $113.97.
According to Azeri-Press News Agency, the previous price of Azerbaijani oil was recorded at $112.02. The rise in the price of Azeri Light crude oil comes as significant news, considering that the average price of one barrel of Azeri Light crude oil in Azerbaijan’s state budget for this year is set at $65.