Bank Of Baku

Azerbaijan fulfilled 114% its commitments under OPEC+ in January

Azerbaijan fulfilled 114% its commitments under OPEC+ in January
# 16 February 2022 10:42 (UTC +04:00)

In January of this year, daily oil production (together with condensate) in Azerbaijan was 700,5 thousand barrels, the Ministry of Energy told APA-Economics.

During the reporting period, 580,9 thousand barrels of production made up crude oil, while 119,6 thousand barrels of it were condensate.

So, Azerbaijan fulfilled almost 113,8% of its commitment within the framework of OPEC+ in January.

Note that within the framework of the agreement adopted in the 23rd meeting of ministers of OPEC+ countries, it was envisaged to raise the production of daily oil crude in Azerbaijan 7 thousand barrels more and to keep at 661 thousand barrels, while the reduction commitment was expected to be 57 thousand barrels.

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