In November of this year, the average daily crude oil production in Azerbaijan was at the level of 456 thousand barrels, APA-Economics reports, citing the monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
Compared to the indicators of October of the current year (458 thousand barrels), the average daily oil production in Azerbaijan in November decreased by 2 thousand barrels.
According to the data, in the first, second, and third quarters of this year, the corresponding figures were 466 thousand barrels, 461 thousand barrels, and 458 thousand barrels, respectively.
Note that according to the agreement reached by the ministers of the “OPEC+” (an initiative covering OPEC and non-member countries to reduce oil production), Azerbaijan’s production quota until the end of 2026 is set at 551 thousand barrels per day.
Thus, in November of the current year, Azerbaijan fell short of the quota under “OPEC+” by 95 thousand barrels.