OPEC Reveals Decline in Azerbaijan’s Daily Oil Production in October.

General

Baku: In October of this year, Azerbaijan’s daily oil production averaged 482,000 barrels, which is 7,000 barrels lower compared to the previous month, September, this was stated in the monthly report of the Organization of the Petroleum Exporting Countries (OPEC), APA-Economics reports.

According to Azeri-Press News Agency, the figure for July of this year was 487,000 barrels, in August it was 482,000 barrels, and in September, it reached 489,000 barrels. The document also notes that in the third quarter of this year, Azerbaijan’s average daily oil production was 486,000 barrels, in the second quarter it was 475,000 barrels, and in the first quarter, it amounted to 477,000 barrels.

Note that according to the agreement reached at the 36th ministerial meeting of OPEC+ countries, Azerbaijan’s production quota for 2024 is 551,000 barrels per day. Thus, in October, Azerbaijan’s production was 69,000 barrels behind its quota within the framework of OPEC+.