OPEC raises forecast on Azerbaijan’s liquid hydrocarbons

Liquids supply is forecast to grow by 30,000 b/d to average 760,000 b/d in 2021, Report informs, citing OPEC.

Azerbaijan’s liquids supply in February declined slightly m-o-m to 740,000 b/d and is expected to continue at the same level in March.

Condensate and NGL output from gas-condensate offshore fields saw a record high in January at 193,000 b/d, mainly from the Shah-Deniz field in the Caspian. However, preliminary average production data in February and March shows a decline of 45,000 b/d to an average of 148,000 b/d.