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Azerbaijan’s average compliance with OPEC+ deal up - IEA

Oil&Gas Materials 13 May 2021 10:53 (UTC +04:00)
Azerbaijan’s average compliance with OPEC+ deal up - IEA

BAKU, Azerbaijan, May 13

By Leman Zeynalova – Trend:

Azerbaijan’s oil supply (excluding condensates) stood at 0.59 million barrels per day in April 2021, unchanged from March 2021, Trend reports with reference to the International Energy Agency (IEA).

The country’s compliance with OPEC+ agreement in April 2021 was 101 percent and the average compliance was 101 percent, according to the IEA report.

Azerbaijan’s supply baseline amounts to 0.72 million barrels per day. The target for the May 2021 and June 2021 is 0.60 and 0.61 million barrels per day, respectively.

Azerbaijan fulfilled its obligations under OPEC+ deal in April 2021 by producing 698,000 barrels per day of crude oil, including condensate, with 594,000 barrels accounting for crude oil and 104,000 barrels accounting for condensate.

Under the OPEC+ deal, Azerbaijan was required to reduce production by 123,000 barrels per day from January through April 2021, from the 2018 level of 718,000 barrels per day and keep it at the level of 595,000 barrels per day.

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Follow the author on Twitter: @Lyaman_Zeyn

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