In July of this year, daily oil production in Azerbaijan averaged 462,000 barrels, which is 1,000 barrels less compared to June, APA-Economics reports, citing the monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
Daily oil production in Azerbaijan averaged 462,000 barrels in the second quarter of this year, which is 5,000 barrels less than in the first quarter (467,000 barrels).
It was also noted that last year, daily oil production in Azerbaijan averaged 482,000 barrels, which is 22,000 barrels less compared to 2023 (504,000 barrels).
According to the agreement reached by the ministers of the “OPEC+” countries (an initiative to reduce oil production involving OPEC and non-OPEC countries), Azerbaijan’s production quota is set at 551,000 barrels per day until the end of 2026.
Thus, in July of this year, Azerbaijan’s output was 89,000 barrels per day below its “OPEC+” quota.
