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OPEC changes its forecast on production of liquid hydrocarbons in Azerbaijan

12 April 2022 17:13 (UTC +04:00)

The Organization of the Petroleum Exporting Countries (OPEC) has changed its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2022, APA-Economics reports citing the OPEC's monthly report.

According to OPEC, in 2022 the figure will be 810,000 barrels (10,000 barrels less than in March forecast).

The report also states that in February this year, the country's average daily production of oil and other liquid hydrocarbons amounted to 720,000 barrels. In March, this figure is expected to reach 800,000 barrels.

According to the report, the daily production of oil and other liquid hydrocarbons in Azerbaijan in 2021 amounted to 740,000 barrels.

Notably, in 2020, the average daily production of oil and other liquid hydrocarbons in Azerbaijan was 730,000 barrels, which is 60,000 barrels less than in 2019.