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Azerbaijan 116% fulfills commitments under OPEC oil deal for March

13 April 2022 14:26 (UTC +04:00)

Azerbaijan's daily oil production (including condensate) amounted to 696.4 thousand barrels in March 2022, the Ministry of Energy told APA-Economics.

According to the Ministry, 579,400 barrels of produced liquid hydrocarbons were crude oil and 117,000 barrels were condensate.

Thus, in March, Azerbaijan fulfilled its OPEC + (OPEC and non-OPEC initiative to reduce oil production) by 116%.

Notable that according to the decision made at the 25th meeting of ministers of OPEC + (Initiative to reduce oil production in OPEC and non-OPEC countries), daily crude oil production in Azerbaijan will be increased by 7,000 barrels in March 2022 to 675 thousand barrels, and the commitment to reduce was expected to be 43 thousand barrels.