ISSN 2330-717X

Azerbaijan Cuts Average Daily Oil Production Within OPEC+ Agreement

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By Sara Israfilbayova

Azerbaijan has submitted the data on the daily oil production in the country for April 2019 to the joint technical commission of the OPEC monitoring committee, Trend reports referring to the country’s Energy Ministry on May 11.

According to the ministry, daily oil production reached 683,000 barrels in Azerbaijan in April, of which 605,000 accounted for oil, 78,000 – for condensate.

Thus, 390,000 barrels of oil, 75,000 barrels of condensate and 19,000 barrels of oil products were exported daily.

The average daily oil production reached 793,000 barrels in January, 806,000 barrels in February and 798,000 barrels in March, the Ministry of Energy said.

The average daily oil production volume in the first quarter of this year reached 799,000 barrels.

The joint technical commission was established on January 22, 2017 under the monitoring committee created to monitor the fulfillment of the countries’ commitments to reduce oil production.

An agreement was reached to reduce daily oil production by 1.2 million barrels at the 5th OPEC and non-OPEC Ministerial Meeting in Vienna on December 7, 2018.

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Trend News Agency

Trend News Agency

Founded in 1995 as a private media outlet in Azerbaijan, Trend News Agency is a leading news provider in the Caucasus, Caspian and Central Asian region. Trend has established the Trend Expert Council, bringing together about 40 well-known independent experts from the region and the West.

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