Average daily crude oil production in Azerbaijan in June of this year was 479,000 barrels, which is 13,000 barrels more than in May, APA-Economics reports citing the monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
According to the report, oil production in Azerbaijan amounted to 466 thousand barrels in May of this year.
It was reported that in the first quarter of this year, the average daily oil production in Azerbaijan was 477 thousand barrels, and in the second quarter it was at the level of 475 thousand barrels, which means a slight decrease.
It should be noted that Azerbaijan’s daily crude oil production quota for 2024 is 551,000 barrels within the framework of “OPEC+” cooperation (an initiative to reduce oil production involving OPEC and non-OPEC countries).
Thus, in June, Azerbaijan was 72 thousand barrels behind its quota within the framework of “OPEC+”.
Source: Azeri-Press news agency