BAKU, Azerbaijan, September 13. The US Energy Information Administration (EIA) has revised its forecasts for oil production in Azerbaijan, Trend reports.
EIA expects that in 2023, Azerbaijan will produce 0.63 million barrels of oil per day, whereas the previous report had projected this figure to be at 0.64 million barrels per day.
EIA has also lowered its oil production forecast for Azerbaijan in 2024. It is now anticipated that the country will produce 0.64 million barrels per day, compared to the previous estimate of 0.65 million barrels per day.
As of the end of 2022, Azerbaijan's oil production amounted to 32.6 million tons, including condensate. Exports totaled more than 26 million tons of oil, which is 4 percent lower, or approximately 1.09 million tons less than in 2021.
In total, Azerbaijan plans to produce 33.4 million tons of oil this year.
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