In January 2024, the daily crude oil production in Azerbaijan was at the level of 470,000 barrels, APA-Economics reports citing the monthly reports of International Energy Agency (IEA).
According to the Agency, in December 2023, the oil production in Azerbaijan was at the level of 480,000 barrels.
Note that within the framework of OPEC+ cooperation (OPEC and an initiative to reduce oil production involving non-member countries), Azerbaijan’s daily crude oil production quota for 2024 is 551,000 barrels.
Thus, in January, Azerbaijan was 81,000 barrels behind its quota within the framework of OPEC+.
According to the Ministry of Energy of the Republic of Azerbaijan, in December 2023, the daily crude oil production in Azerbaijan was at the level of 482,000 barrels and the country was 202,000 barrels behind its quota within the framework of “OPEC+” during this period.
Source: Azeri-Press News Agency