Azerbaijan decreased daily oil production in October

Azerbaijan decreased daily oil production in October
  • Clock-gray 09:52
  • calendar-gray 12 November 2019

Daily oil production was 718 thousand barrels in Azerbaijan in October and it is 37 thousand barrels or 4.9% less than September of the current year, Azerbaijani Ministry of Energy told APA-Economics.

644 thousand barrels of daily oil production fall to the share of crude oil, while 74 thousand to the share of condensate. 569 thousand barrels of crude oil, 76 thousand barrels of condensate, and 9,5 thousand barrels of 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.

Note that average daily oil production became 762 thousand barrels in January-October of the current year.

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

Note that Cooperation declaration signed on December 7, 2018, due to the reduction of daily oil production by OPEC plus 1.2 million barrels per day has been extended from July 1 this year to the end of the first quarter of 2020.

APA-Economics

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