Azerbaijan increased oil production to 814.6 kb/d in January

The daily volume of oil production in Azerbaijan in January 2018 amounted to 814.6 thousand barrels, the Ministry of Energy said.

Of this volume, 759.7 thousand barrels fell on crude oil, and 54.9 thousand barrels – on condensate, the information says.

In January of 2018, the daily volume of exports of crude oil from Azerbaijan amounted to 624.2 thousand barrels, along with 54.9 thousand barrels of condensate and 14.3 thousand barrels of oil products.

Under the terms of OPEC +, Azerbaijan pledged to keep the daily oil production at the level of less than 800 thousand barrels per day from the beginning of 2017.

Table of Oil and Condensate Production by Azerbaijan (in thousand barrels):

“In 2017, the average daily oil production in the country was 781.9 thousand barrels (38.7 million tons – a decrease of 2.36 million tons – Caspian Barel) and Azerbaijan fulfilled its obligations under OPEC + to reduce production,” the Ministry of Energy said.