BAKU, Azerbaijan, June 11. Azerbaijan's crude production in May 2024 has been estimated at 478,000 b/d, Trend reports.
According to OPEC's latest data, the country's oil output in the reporting period decreased by 2,000 b/d month-on-month (480,000 b/d in April 2024). This volume also increased by 2,000 b/d, compared to May 2024 output.
In 1Q2024, Azerbaijan's daily crude output totaled 477,000 barrels - down by 10,000 b/d from 487,000 b/d in 4Q2023, and by 19,000 b/d from 496,000 b/d in 3Q2023, the bloc's report says.
Meanwhile, total non-OPEC DoC crude oil production averaged 14.29 mb/d in May 2024, a decrease of 152,000 b/d month-on-month. Crude oil output increased primarily in Mexico, while production in Russia and Kazakhstan declined.
Azerbaijan produced 12 million tons of oil (including condensate) from January through May 2024, which is 0.7 million tons less year-on-year. The country is expected to produce over 30 million tons of oil and condensate in 2024.