Azerbaijan fully performed its OPEC+ commitment in October

Azerbaijan fully performed its OPEC+ commitment in October
  • Clock-gray 13:08
  • calendar-gray 10 November 2020

In October of the current year, daily oil production (including condensate) over the country became 675,2 barrel, the Ministry of Energy of Azerbaijan told APA-Economics.

Of this, 587 thousand barrels were crude oil and 88,2 thousand barrels were condensate.

According to the Declaration of Cooperation, Azerbaijan, of which daily crude oil production has been 718 thousand barrels in October of 2018, should maintain crude oil production at the volume of 587 thousand barrels by decreasing by 131 thousand barrels in August-December of this year.

"Thus, Azerbaijan executing its average daily crude oil production at the volume of 587 thousand barrels in October on OPEC+, fulfilled its OPEC+ obligation by 100%", noted Ministry.

Note that the second stage of the OPEC+ agreement of April 12 on decreasing daily crude oil production by 7.7 thousand barrels in total covers August 1- December 31.

Emil Ismayilov

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