In June of this year, daily oil production in Azerbaijan averaged 464 thousand barrels, which is 1 thousand barrels less than the figure for May, APA-Economics reports, citing the monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
It is reported that in the second quarter of this year, daily oil production in Azerbaijan averaged 463 thousand barrels, which is 4 thousand barrels less than the figure for the first quarter of the year (467 thousand barrels).
The document states that last year, daily oil production in Azerbaijan averaged 482 thousand barrels, which is 22 thousand barrels less than the figure for 2023 (504 thousand barrels).
It should be noted that, according to the agreement reached by the ministers of the OPEC+ countries (an initiative to reduce oil production that includes OPEC and non-OPEC countries), Azerbaijan's production quota is 551 thousand barrels per day until the end of 2026.
Thus, in June of this year, Azerbaijan fell short of the quota within the framework of OPEC+ by 87 thousand barrels.
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