In March 2021, daily oil production (including condensate) in Azerbaijan amounted to 734,800 barrels, with crude oil accounting for 592,100 and condensate responsible for 142,700 barrels,Report informs, citing the country’s Energy Ministry.
At the 13th and 14th ministerial meetings of the OPEC+ countries, it was decided to keep the current quotas for daily crude oil production in February, March, and April. According to the new agreement, Azerbaijan’s obligations in the amount of 123,000 barrels in January are valid for the reporting period as well. The output will be left at 595,000 barrels a day.
At the 15th ministerial meeting, the OPEC+ countries agreed to increase the output cut up to 1.1 million barrels a day. Under the agreement, Azerbaijan’s daily oil production will make up 603,000 barrels in May, 610,000 barrels in June, and 620,000 barrels in July.