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OPEC unveils daily oil production in Azerbaijan

11 June 2024 16:27 (UTC +04:00)

In May 2024, the average daily crude oil production in Azerbaijan was at the level of 478,000 barrels, APA-Economics reports citing the monthly report of Organization of the Petroleum Exporting Countries (OPEC).

According to the report, oil production in Azerbaijan amounted to 480,000 barrels in April of this year.

Noted that in the first quarter of this year, the average daily oil production in Azerbaijan was at the level of 477,000 barrels, which is 10,000 barrels less than the indicator of the 4th quarter of 2023.

Note that according to the agreement reached at the 36th ministerial meeting of OPEC+ countries, Azerbaijan's production quota for 2024 is 551,000 barrels per day.

Thus, in May, Azerbaijan was 73,000 barrels behind its quota within the framework of OPEC+.