BAKU, Azerbaijan, August 13. The Energy Information Administration of the US Department of Energy (EIA) has maintained the forecast for the volume of production of liquid hydrocarbons in Azerbaijan in 2023–2024, Trend reports.
According to EIA projections, Azerbaijan will produce 0.64 million b/d of liquid hydrocarbons in 2023. At the same time, actual production in the first quarter was 65,000 b/d, 62,000 b/d in the second quarter, 64,000 b/d in the third quarter (the July projection was 0.64 million b/d), and 65,000 b/d in the fourth (the June forecast was 65,000 b/s).
Azerbaijan's liquid hydrocarbon production will reach 65,000 b/d in 2024. At the same time, oil production will be 65,000 b/d in the first quarter of next year, 65,000 b/d in the second, 65,000 b/d in the third, and 66,000 b/d in the fourth.
In accordance with the updated data of the department, the production of liquid hydrocarbons amounted to 67,000 b/s in Azerbaijan in 2022.
According to OPEC’s forecast, the production of liquid hydrocarbons will decrease by about 30,000 barrels per day and amount to 0.7 million barrels per day in Azerbaijan in 2024.