EIA raises forecast for Azerbaijan's oil production

The Energy Information Administration (EIA) under the US Department of Energy has raised its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2024-2025, according to the organization’s monthly report, News.Az reports.

The daily production of oil and other liquid hydrocarbons in Azerbaijan is expected to be 610,000 barrels this year, which is 10 thousand barrels more than the previous forecast.

According to the forecast, the average daily production of oil in Azerbaijan next year will amount to 650,000 barrels, which is 10,000 barrels more than the previous forecast.

It was noted that the daily production of oil in Azerbaijan last year amounted to 620,000 barrels.

According to the report, in 2022, the daily production of liquid hydrocarbons in the country was at the level of 670,000 barrels. In 2021, the daily production of liquid hydrocarbons in the country was at the level of 720,000 barrels.

It should be recalled that in 2019 and 2020, the mentioned indicator was at the level of 780,000 and 700,000 barrels, respectively.

News.Az