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The international market price of Azerbaijani oil, specifically the Azeri Light (CIF) brand, witnessed a notable rise.
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A single barrel of Azeri Light oil increased by $3.41, marking a 4.13% jump in value. This price surge brought the new trading rate to $82.58 per barrel, compared to the previous level of $79.17.
It is worth noting that Azerbaijan’s state budget for the current fiscal year is based on an assumed average oil price of $70 per barrel for Azeri Light, indicating the current market rate is significantly outperforming budgetary forecasts.
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