US decreases its forecast for oil production in Azerbaijan

The Energy Information Administration (EIA) under the US Department of Energy has reduced its forecast for average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2024-2025, Azernews reports, citing the monthly report of the EIA.

The daily production of oil and other liquid hydrocarbons in Azerbaijan is expected to be 600 thousand barrels this year (according to the previous forecast - 610 thousand barrels).

In addition, the average daily oil production in the country next year will be 640,000 barrels, which is 10,000 barrels less than the previous forecast.

It is noted that the daily production of oil and other liquid hydrocarbons in Azerbaijan was 620,000 barrels last year.

In 2022, the daily production of liquid hydrocarbons in the country was at the level of 670 thousand barrels. In 2021, the daily production of liquid hydrocarbons in the country was at the level of 720 thousand barrels.

Recall that in 2019 and 2020, the mentioned indicator was at the levels of 780 thousand and 700 thousand barrels, respectively.