The Organization of the Petroleum Exporting Countries (OPEC) reduced its forecast for the average weekly production of oil and other liquid hydrocarbons in Azerbaijan for 2023, APA-Economics reports citing the monthly report of OPEC.
According to the OPEC forecast, in 2023, the mentioned indicator will be at the level of 700 thousand barrels on average, which is 29 thousand barrels less than the annual comparison. The growth rate forecast has been reduced by 8,000 barrels compared to the previous probable indicator.
Noted that the downward correction of the forecast was due to lower-than-expected production in the main oil fields in April.
According to the report, in 2022, the mentioned indicator was at the level of 700 thousand barrels on average, which is 40 thousand barrels less than the annual comparison.
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