BAKU, Azerbaijan, June 12. In May 2024, Azerbaijan's oil production reached 0.48 mb/d, Trend reports.
The International Energy Agency (IEA) reported that during the specified period, the country failed to meet its production quota of 0.55 mb/d by 0.07 mb/d.
At the same time, the data also highlighted that Azerbaijan maintained its oil production at the same level in May 2024 as in April.
Meanwhile, Azerbaijan produced 12 million tons of oil (including condensate) from January through May 2024, which is 0.7 million tons less year-on-year.
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.