BAKU, Azerbaijan, September 19. Daily crude oil production in Azerbaijan amounted to 498,000 barrels in August, Trend reports.
The data from Azerbaijan's Energy Ministry shows that daily oil production (including condensate) amounted to 620,000 barrels in August 2023. Of these, 498,000 barrels amounted to crude oil and 122,000 barrels of condensate.
It should be noted that within the framework of OPEC+ cooperation until the end of 2023, Azerbaijan's obligation to cut 33,000 barrels per day and the daily quota of crude oil production are 684,000 barrels.
Also, the IEA predicts that Azerbaijan's crude output for the third quarter of 2023 will amount to 0.63 mb/d and will increase to 0.65 mb/d in the fourth quarter of 2023. The quarterly forecast has been upgraded by 0.1 mb/d both for 3Q and 4Q2023.