11:35 - 11.08.2023
The Organization of the Petroleum Exporting Countries (OPEC) has lowered its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2023.
ABC.AZ reports that, according to the monthly OPEC report, the average daily production of oil and other liquid hydrocarbons in the country in 2023 is projected at 700,000 barrels. This means an increase of 11,000 barrels per year, which is 11,000 barrels less than the projected figure for previous growth rates.
It was noted that the reason for the decrease in the forecast is due to the fact that production at the main oil fields in May was lower than expected.
Also, according to the report, the daily production of liquid hydrocarbons in Azerbaijan in 2024 is projected to average 0.7 million barrels with a 30-thousandth reduction.
It is noted that in 2022, this indicator was on average at the level of 700,000 barrels, which is 65,000 less than a year ago.
