In October of this year, the average daily crude oil production in Azerbaijan amounted to 461 thousand barrels, the Ministry of Energy told APA-Economics.
Compared to September of the current year (459 thousand barrels), Azerbaijan’s average daily oil production in October increased by 2 thousand barrels.
According to the information, in the first, second, and third quarters of this year, the mentioned indicator amounted to 465 thousand barrels, 461 thousand barrels, and 458 thousand barrels, respectively.
Note that according to the agreement reached by the countries of “OPEC+” (the initiative on reducing oil production that includes OPEC and non-OPEC countries), Azerbaijan’s production quota is set at 551 thousand barrels per day until the end of 2026.
Thus, in October, Azerbaijan fell short of its “OPEC+” quota by 90 thousand barrels.
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