BAKU, Azerbaijan, April 12. In March 2024, Azerbaijan's oil production reached 0.48 mb/d, Trend reports.
According to data from the International Energy Agency (IEA), during the reporting period, the country fell short of its production quota of 0.55 mb/d by 0.07 mb/d.
At the same time, the report noted that Azerbaijan has sustained its oil production at the same level in March 2024 as it was in February.
According to the operational data provided by the Ministry of Energy, Azerbaijan produced 7.3 million tons of oil, including condensate, from January through March 2024, which is 5.2 percent less than in the same period of 2023 (7.7 million tons).
In 2023, Azerbaijan produced a total of 30.19 million tons of oil and condensate, marking a 7.5 percent decrease from the previous year's figures in 2022.
For the year 2024, a production target of 29.5 million tons has been set.