Azerbaijan reduced oil production by 1% in February

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Azerbaijan presented to the joint technical commission of the OPEC monitoring committee data on daily oil production in the country in February 2018.

According to the Ministry of Energy of Azerbaijan, last month, daily oil production in Azerbaijan amounted to 806 thousand barrels, of which 751 thousand barrels fell on oil, and 55 thousand barrels – on condensate. Every day 621.3 thousand barrels of oil, 55 thousand barrels of condensate and 20.4 thousand barrels of oil products were exported.

In 2017, Azerbaijan produced an average of 781.9 thousand barrels of oil. The country’s obligations under the OPEC + agreement are less than 800,000 barrels per day.

In January 2018, Azerbaijan produced 814.6 thousand barrels of oil per day. In February, the volume of oil production decreased by 1.05% in comparison with January.

The Joint Technical Commission was established on January 22, 2017 with a monitoring committee set up to monitor the countries’ fulfillment of their obligations to reduce oil production.

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