Bank Of Baku

Azerbaijan was 65,000 barrels short of its OPEC+ quota in November

Azerbaijan was 65,000 barrels short of its OPEC+ quota in November
# 11 December 2024 13:33 (UTC +04:00)

In November 2024, daily oil production (including condensate) in Azerbaijan amounted to 80,771 barrels, of which, 65,885 tons were crude oil (486,000 barrels), and 14,886 tons were condensate, APA-Economics reports.

Note that according to the agreement reached at the 38th meeting of the OPEC+ (the oil production reduction initiative involving both OPEC and non-OPEC countries) ministers, Azerbaijan's production quota is set at 551,000 barrels (74,259 tons) per day until the end of 2026.

Thus, Azerbaijan was 8,374 tons, or 65,000 barrels, behind its quota within the OPEC+ framework in November.

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