In April of this year, daily oil production in Azerbaijan averaged 473 thousand barrels, which is 2 thousand barrels less compared to the figure for March, APA-Economics reports citing monthly reports of the Organization of the Petroleum Exporting Countries (OPEC).
According to the report, the mentioned figure was 466 thousand barrels in January and 475 thousand barrels in February of this year.
It is stated that in the first quarter of this year, daily oil production in Azerbaijan averaged 471 thousand barrels, which is 16 thousand barrels less compared to the fourth quarter of 2024 (487 thousand barrels).
The document states that last year, daily oil production in Azerbaijan averaged 482 thousand barrels, which is 22 thousand barrels less compared to the 2023 figure (504 thousand barrels).
Note that according to the agreement reached by the ministers of “OPEC+” (an initiative to reduce oil production covering OPEC and non-OPEC countries), Azerbaijan’s production quota is set at 551 thousand barrels per day until the end of 2026.
Thus, in March of this year, Azerbaijan lagged 78 thousand barrels behind the quota set within the framework of “OPEC+”.
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