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IEA marks record high OPEC+ compliance from Azerbaijan

Oil&Gas Materials 12 May 2022 13:37 (UTC +04:00)
IEA marks record high OPEC+ compliance from Azerbaijan
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, May 12. Azerbaijan’s oil supply (excluding condensates) stood at 0.58 million barrels per day in April 2022, remaining unchanged from February 2022, Trend reports with reference to the International Energy Agency (IEA).

The country’s compliance with OPEC+ agreement in April 2022 was 376 percent, according to the IEA report.

The target for April 2022 was 0.68 million barrels per day.

At the 28th Ministerial Meeting of OPEC and non-OPEC countries, Azerbaijan also supported the decision to increase daily oil production by 432,000 barrels in June.

In according to the quotas set for June, the daily crude oil production in Azerbaijan is expected to increase by 7,000 barrels reaching to 695 thousand barrels, and the commitment to reduce to 23,000 barrels.

According to the decision adopted at the 19th Ministerial Meeting of OPEC plus held in July last year, the increase in daily crude oil production with partial adjustments to the base level will be applied from May 2022.

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