EIA increases its forecast on oil production in Azerbaijan

EIA increases its forecast on oil production in Azerbaijan
  • Clock-gray 09:37
  • calendar-gray 13 January 2021

Energy Information Administration under the US Ministry of Energy has changed its forecast on daily production of oil and other hydrocarbons in Azerbaijan in 2020, APA-Economics reports citing EIA.

The average daily production of oil and other hydrocarbons was 710 thousand barrels in Azerbaijan last year and it is 10 thousand barrels more than the previous forecast.

Furthermore, EIA has increased its forecast on oil production in 2021. Thus, the daily production of oil and other hydrocarbons will be 730 thousand barrels in Azerbaijan this year. (According to the forecast for December, this indicator should be 720 thousand barrels). 

According to the forecast of the organization, daily oil production will increase in the country in 2022 and will be 780 thousand barrels.

In accordance with indicators of the EIA, the average daily oil production of Azerbaijan was 780 thousand barrels in 2019.

Emil Ismayilov

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