In September of this year, the average daily crude oil production in Azerbaijan was 448 thousand barrels, which means an increase of 6 thousand barrels compared to the previous month.
According to the monthly report of the Organization of the Petroleum Exporting Countries, cited by elchi, the indicator in August was 442 thousand barrels.
According to the information, the average daily crude oil production in Azerbaijan was 454 thousand barrels in the first quarter of the year, 456 thousand barrels in the second quarter, and 449 thousand barrels in the third quarter. Thus, the indicator in the third quarter of the year decreased by 7 thousand barrels.
It is reported that in 2025, the average daily crude oil production in Azerbaijan will be 461 thousand barrels, which is 20 thousand barrels less than the indicator for 2024.
It should be recalled that Azerbaijan is a participant in the “OPEC+” agreement. “OPEC+” is an initiative to reduce oil production involving OPEC and non-OPEC countries. According to the agreement reached by the ministers of the “OPEC+” countries, Azerbaijan’s production quota until the end of 2026 is 551 thousand barrels per day.
Thus, in September, Azerbaijan lagged behind its quota by 103 thousand barrels within the framework of “OPEC+”.