In October 2020, the daily production of oil with condensate in Azerbaijan amounted to 675.2 thousand barrels, of which 587 thousand barrels fell on oil production, and 88.2 thousand barrels on condensate
This is stated in the monthly report of the Ministry of Energy of the Republic of Azerbaijan.
Azerbaijan in October, the country reduced oil production by 131 thousand bpd from October 2018. Taking into account the country’s obligations under OPEC + to reduce oil production by 131 thousand b / d from October 2018, i.e. up to 587 thousand bpd, the country fulfilled these obligations by 100% in October, the Ministry of Energy notes.
As it was reported earlier, in May Azerbaijan fulfilled its obligations to reduce production within the framework of OPEC + by 98%, in June – by 100.1%, in July – by 99.9%, in August – by 101.8%, and in September – by 101.5%.
The OPEC and non-OPEC countries on April 12, 2020, during a videoconference, approved a deal to collectively reduce daily oil production in three stages from May 1, 2020 to April 2022.