OPEC Cuts Forecasts on Crude Delivery

Oil&Gas Materials 23 September 2008 12:44 (UTC +04:00)

Azerbaijan, Baku, 22 September / corr Trend A.Badalova / In 2008 oil delivery from Azerbaijan will increase by 140,000 barrels to 1mln barrels a day, according to OPEC's September report. This figure is down by 16,000 barrels than the OPEC's forecasts made last month.

According to OPEC's forecasts, in the third quarter of 2008 the oil production in Azerbaijan will comprise 0.94mln barrels a day and in the fourth quarter - 1.09mln barrels a day.

OPEC predicts that oil production in Kazakhstan will comprise 1.43mln barrels a day this year, or up by 80,000 barrels a day than the volumes in 2007. In the third quarter the cartel forecasts oil production in Kazakhstan to constitute 1.37mln barrels a day and 1.5mln barrels in the fourth quarter.

The total amount of oil production in former Soviet countries is will be 13.090mln barrels in 2009, OPEC states.

In 2008 total volume of oil export by the former Soviet countries will make up 8.68mln barrels a day in average, or up by 140,000 barrels a day fixed in 2007. In 2009 the volume of oil export in these countries will increase by 240,000 barrels a day to 8.92mln barrels a day, according to the cartel's last report..

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