The average daily oil production in Azerbaijan in 2021 is projected at 730,000 barrels, Report informs, citing the Short-Therm Energy Outlook-February 2021 of the Energy Information Administration (EIA) of the US Department of Energy.
The oil production forecast for this year has not changed.
In the first quarter of 2021, the country's average daily oil production will be 700,000 barrels, while it is expected to be 730,000 barrels in the second quarter.
The EIA report reads that the forecasts are identical to those presented in the January report.
Accordingly, these forecasts are 70,000 barrels, or 9.09% less than in the first quarter of 2020, and 30,000 barrels, or 4.29% more than in the second quarter.
The EIA believes that in the third quarter of 2021, the forecast of Azerbaijan's average daily oil production will be 740,000 barrels. The numbers are in line with the previous estimates. Compared to the indicators of the third quarter of 2020, production is increasing by 70,000 barrels or 10.45%.
In the last quarter of this year, the average daily oil production forecast for Azerbaijan will be 750,000 barrels. It is also in line with the estimates published in January. The forecast is 60,000 barrels or 8.7% higher than the daily oil production in the fourth quarter of the previous year.