The U.S. Energy Information Administration has forecasted a stable level of daily oil production for Azerbaijan for 2021-2022.
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Organization of Petroleum Exporting Countries (OPEC) has increased its forecast for average daily oil production in Azerbaijan for 2020-2021.
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Azerbaijan fulfilled its obligations under OPEC+ agreement in September 2020, Energy Ministry has reported.
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OPEC has changed its forecast for average daily oil production in Azerbaijan for 2021.
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Azerbaijan’s forecast for 2020-2021 average daily oil production is stable according to the U.S. Energy Information Administration report released in August.
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The Organization of Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of oil in Azerbaijan for 2020.
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Azerbaijan’s obligations envisage the reduction of daily crude oil production in May through June 2020 by 23 percent – 164,000 barrels, Trend reports referring to the Azerbaijani Ministry of Energy.
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The daily oil production amounted to 771,000 barrels in Azerbaijan in December 2019, Trend reports referring to the Azerbaijani Ministry of Energy.
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Azerbaijan reduced its daily oil production by 20,000 barrels since January 2019, in line with the OPEC+ deal agreement that stipulates maintaining daily oil output at 776,000 barrels, the country’s Ministry of Energy has said in its official website.
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Over the past nine months, Azerbaijan has fulfilled its oil production obligations under OPEC+ agreement by 145 percent, the Ministry of Energy said in a statement published in its official website.
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