U.S. raises oil production forecast on Azerbaijan

11:46 - 10.01.2024

January 10, Fineko/abc.az. The Energy Information Administration of the U.S. Department of Energy (EIA) has increased the forecast on production of liquid hydrocarbons in Azerbaijan for 2024 by 10,000 b/d.

ABC.AZ informs with reference to the above-mentioned monthly report, daily production of oil and other liquid hydrocarbons in Azerbaijan this year is likely to amount to 610,000 barrels, which is 10,000 barrels more than previously forecast.

According to the forecast, last year the daily production of oil and other liquid hydrocarbons in Azerbaijan reached 620,000 barrels (the forecast remained unchanged).

Along with this, the organization has published its forecast on oil production in Azerbaijan for 2025. Thus, according to EIA estimates, next year the average daily oil production in the country will be at the level of 650,000 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.