Bank Of Baku

US updates its forecast on Azerbaijan's oil production

US updates its forecast on Azerbaijan
# 12 July 2023 08:50 (UTC +04:00)

The U.S. Energy Information Administration (EIA) has not made any changes on its forecast for the average daily production of petroleum and other liquids in Azerbaijan for 2023-2024, APA-Economics reports citing monthly review of EIA.

In 2023-2024, Azerbaijan’s petroleum and other liquids production is expected to be 650,000 barrels per day.

According to the forecast, the petroleum and other liquids production in Azerbaijan this year will account for 640,000 barrels per day.

Note that last year, Azerbaijan’s liquid production amounted to 670,000 barrels per day. In 2021, Azerbaijan’s petroleum and other liquids production was estimated at 720,000 barrels per day.

 

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