In July of this year, Azerbaijan's average daily crude oil production stood at 440,000 barrels, APA-Economics reports.
According to the monthly report of the International Energy Agency (IEA), Azerbaijan's average daily oil production in July was equal to the June figure.
It should be recalled that Azerbaijan is a participant in the OPEC+ agreement. OPEC+ is an initiative to reduce oil production (in order to balance the market – ed.) involving OPEC and non-OPEC countries. According to the agreement reached by the ministers of the OPEC+ countries, Azerbaijan's production quota stands at 551,000 barrels per day until the end of 2026.
Thus, in July, Azerbaijan fell short of its quota under OPEC+ by 111,000 barrels.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
