Azerbaijan fulfills obligations under OPEC+ deal

Azerbaijan produced 679,900 barrels of oil per day, including condensate in May 2022, of which 571,300 barrels accounted for crude oil and 108,600 barrels were condensate, the country’s Energy Ministry told News.Az. 

In accordance with the decision taken at the 27th meeting of the ministers of the OPEC + countries, Azerbaijan committed itself to cutting oil production by 30,000 barrels in May. The country's oil production quota in May was 688,000 barrels or 7,000 barrels more month-on-month.

As such, Azerbaijan fulfilled its obligations under the OPEC + agreement by 120.4 percent.

At the 28th Ministerial Meeting of OPEC and non-OPEC countries, Azerbaijan also supported the decision to increase daily oil production by 432,000 barrels in June.

According to the quotas set for June, the daily crude oil production in Azerbaijan is expected to increase by 7,000 barrels reaching 695,000 barrels, and the commitment to reduce it to 23,000 barrels.


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