The average daily oil production in Azerbaijan in 2022 is projected at 680,000 barrels.
Report informs referring to the July issue of the Short-Therm Energy Outlook report of the Energy Information Administration (EIA) of the US Department of Energy that the forecast for oil production for this year is 10,000 barrels or 1.45% less than the forecast in June.
The agency believes that in the third quarter of 2022, the forecast for the average daily oil production in Azerbaijan will be 680,000 barrels, down 10,000 barrels or 1.45% from the outlook for June and 30,000 barrels or 4.22% from the forecast figures for daily oil production in the third quarter of 2021.
In the last quarter of 2022, the average daily oil production in Azerbaijan is projected at 670,000 barrels, down 20,000 barrels or 2.9% from the forecast released by the agency in June, and 40,000 barrels or 5.63% from the forecast for daily oil production in the fourth quarter of 2021.