Azeri Light oil price rises to $71.22 per barrel

The price of one barrel of Azeri Light crude oil has increased by $1.76, or 2.53%, reaching $71.22 on the global market, according to sources cited by Report.

In comparison, Brent crude oil futures for November settled at $68.41 per barrel following recent trading sessions.

Meanwhile, the price of Azeri Light oil based on FOB at Turkey"s Ceyhan port rose by $1.73, or 2.55%, to $69.65 per barrel.

Azerbaijan's state budget for this year is based on an average oil price of $70 per barrel.