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Azerbaijan's “OPEC+” production commitments for next three months approved

29 April 2021 12:45 (UTC +04:00)

“OPEC+” country ministers have approved the decision adopted in the 15th meeting of “OPEC” and non -OPEC country ministers regarding the production commitments on May-June-July months, the Ministry of Energy told APA-Economics.

Azerbaijan’s production quotas for the next 3 months have been determined within the framework of “Declaration of Cooperation”. Thus, Azerbaijan’s new production commitments will make up 115 thousand barrels in May, 108 thousand barrels in June, and 98 thousand barrels in July.

According to the information, daily crude oil production in the country will remain accordingly at the volume of 603 thousand barrels in May, 610 thousand barrels in June, and 620 thousand barrels in July. Daily crude oil production will be increased by 8 thousand barrels in May, 7 thousand barrels in June, and 10 thousand barrels in July.