Last year, daily oil production in Azerbaijan averaged 481,000 barrels, which is 22,000 barrels less than the indicator of 2023 (503,000 barrels), APA-Economics reports citing monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
According to the report, in December last year, daily oil production in Azerbaijan averaged 485,000 barrels, which is 2,000 barrels less than in November.
The document states that in the fourth and third quarters of this year, average daily oil production in Azerbaijan was 486,000 barrels, in the second quarter it was 475,000 barrels, and in the first quarter it was 477,000 barrels.
It should be noted that, according to the agreement reached at the 38th OPEC and non-OPEC Ministerial Meeting (OPEC and non-OPEC), Azerbaijan's production quota is 551 thousand barrels per day until the end of 2026.
Thus, Azerbaijan fell short of the quota within the framework of OPEC+ by 66 thousand barrels in December last year.
