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Non-OPEC countries fulfill agreement by 118% thanks to Azerbaijan


Non-OPEC countries have fulfilled agreement on output cut by 118% thanks to Azerbaijan and Kazakhstan, International Energy Agency (IEA) said in its report for September.  

 

According to the report, Kazakhstan’s fulfillment of agreement in August exceeded the plan (30,000 barrels per day) by three times. Azerbaijan reduced output by 78,000 barrels, which is 24,000 barrels more than quota of 54,000 barrels.  

 

Mexico produced 170,000 barrels per day, while it had to produce 100,000 barrels.

 

Russia’s output made up 316,000 barrels against 300,000 barrels per day. This shows that the plan was fulfilled by 105%. 

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