2024-04-21 19:05:50
Oil production in Azerbaijan in 2025 will be 0.64 million barrels per day, Day.Az reports with reference to Trend.
Thus, the forecast provided by the US Energy Information Administration (EIA) remained unchanged from the previous month’s estimates.
Accordingly, EIA forecasts production to increase by 0.04 million barrels per day compared to the expected volume of 0.60 million barrels per day in 2024.
In particular, oil production in Azerbaijan is expected to reach 0.62 million barrels per day in the first quarter of 2025, followed by an increase to 0.64 million barrels per day in the second quarter. The EIA forecast further growth to 0.66 million bpd in the third quarter and to 0.65 million bpd in the fourth quarter of next year.
According to EIA forecasts, in the first quarter of 2024, oil production in Azerbaijan will reach 0.60 million barrels per day, and in the fourth quarter it will stabilize at 0.61 million barrels per day.
The EIA report notes that in 2023, oil production in Azerbaijan amounted to 0.62 million barrels per day, which is 0.05 million barrels per day less than in 2022.
It should be noted that, according to operational data provided by the Ministry of Energy, in January-March 2024, 7.3 million tons of oil, including condensate, were produced in Azerbaijan, which is 5.2 percent less than in the same period in 2023 (7.7 million tons).
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