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Daily oil production in Azerbaijan for December amounted to 771 thousand barrels

11 January 2020 15:20 (UTC +04:00)

Daily oil production for December in Azerbaijan became 771 thousand barrels, Azerbaijani Energy Ministry told APA-Economics.

Some 680 thousand barrels of the production was crude oil, while 91 thousand barrels was condensate. Some 457 thousand barrel crude oil, 84 thousand barrel condensate, 19.9 thousand barrel oil products were exported daily.

Azerbaijan fully carried out its commitments by decreasing production by 20 thousand barrel in a day in the framework of the agreement on maintenance of oil production in the amount of 776 thousand barrel dated December 7, 2018.

Note that average daily oil production became 767 thousand barrels in January- September of the current year.

Ministry of Energy has presented the reports about daily oil production during December to the Joint Technical Committee of the OPEC Joint Monitoring Committee.

Note that the decision on the reduction of daily oil production by additional 500 thousand barrels under “OPEC plus” was adopted on December 6, 2019 at the VII meeting of OPEC and non-OPEC Ministers. According to the new “Cooperation Declaration”, Azerbaijan’s obligation has been fixed at the level of 27 thousand barrels. Beginning from January, 2020, Azerbaijan should maintain the daily oil production in the amount of 769 thousand barrels.