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Daily oil production in Azerbaijan for January amounted to 769 thousand barrels

11 February 2020 11:30 (UTC +04:00)

Daily oil production for January in Azerbaijan became 769 thousand barrels. Some 678 thousand barrels of the production was crude oil, while 91 thousand barrels were condensate, Azerbaijani Energy Ministry told APA-Economics.

Some 540 thousand barrel crude oil, 87 thousand barrel condensate, 22.3 thousand barrel oil products were exported daily.

According to the information, the Ministry of Energy has presented the reports about daily oil production during January to the Joint Technical Commission of the OPEC Joint Monitoring Committee.

Note that the decision on the reduction of daily oil production by an 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.