Azerbaijan starts fulfilling OPEC+ deal
Azerbaijan has started fulfilling its obligations under the OPEC+ deal to curb oil output, according to the Energy Ministry.
In May-June, OPEC + commitments provide for a decrease in daily oil production by 9.7 million barrels or 23 percent from the level of October 2018, and for Azerbaijan by 164 thousand barrels.
Azerbaijan, oil production of which amounted to 718,000 barrels of crude oil per day in October 2018, also undertook new commitments to reduce the oil production in July-December by 18 percent or 131 thousand barrels, and in April 2021 and 2022 - by 14 percent or 98 thousand barrels.
“Measures to reduce daily production at the Azeri-Chirag-Derinsulu Guneshli fields, at the Azneft Production Association, joint ventures and operating companies will contribute to the fulfillment of Azerbaijan’s obligations,” said Energy Minister Parviz Shahbazov.
News.Az
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