16:17 - 13.03.2024

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March 13, Fineko/abc.az. The Energy Information Administration of the U.S. Department of Energy has reduced forecasts on production of liquid hydrocarbons in Azerbaijan for 2024-2025 by 10,000 b/d.

ABC.AZ reports that this follows from the data of the EIA monthly forecast.

According to EIA forecasts, in 2024, production of liquid hydrocarbons in Azerbaijan will amount to 600,000 b/d against the February forecast of 610,000 b/d.

At the same time, the forecast on oil production for 1st quarter of 2024 is 600,000 b/d, for 2nd quarter – 590,000 b/d, for 3rd quarter – 600,000 b/d, for 4th quarter – 610,000 b/d.

According to EIA forecasts, in 2025, production of liquid hydrocarbons in Azerbaijan will total 640,000 b/d against the February forecast of 650,000 b/d.

At that, oil production is projected in the 1st quarter at the level of 620,000 b/d, in the 2nd quarter – 630,000 b/d, in the 3rd-4th quarters – 650,000 b/d.

According to the updated EIA data, production of liquid hydrocarbons in Azerbaijan in 2023 was 620,000 b/d.