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EIA downgrades forecast for Azerbaijan’s oil production in Q2

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The US Energy Information Agency (EIA) has cut its forecast on Azerbaijan’s daily oil production for the second quarter, Report informs, citing “Short-Term Energy Outlook – June 2021”.

According to the new forecast, the daily output in the country will be 710,000 barrels, which is 10,000 barrels or 1.39% less than May’s forecast. Moreover, this figure is 20,000 barrels, or 2.9% higher than the same period in 2020.

In 2021, Azerbaijan is forecasted to produce 730,000 barrels of oil per day, while the previous forecast was 740,000 barrels a day.

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