In October, daily oil production in Azerbaijan amounted to 718,000 barrels, including 644,000 barrels crude oil and 74,000 barrels condensate. Daily export of crude oil constituted 569 thousand barrels, while export of condensate and oil products accounted for 76 thousand and 9,5 thousand barrels respectively.
Azerbaijan has completely fulfilled its commitment to reduce the daily production by 20,000 barrels upon the agreement on the maintenance of the daily oil production capacity at 776,000 barrels. It should be noted that in January-October of the current year the average daily oil production made up 762 thousand barrels.
The Ministry of Energy presented data on daily oil production in October to the Joint Technical Commission of the Joint Monitoring Committee of OPEC.
“Declaration of Cooperation” signed on December 7, 2018 on the reduction of oil production for “OPEC plus” by 1.2 million barrels per day was extended from July 1 of the current year till the end of the first quarter of 2020.
Editor:Cherie
