In 2023, the average daily oil production in Azerbaijan is projected at 650,000 barrels, Report informs referring to the February issue of the Short-Term Energy Outlook of the Energy Information Administration (EIA) of the US Department of Energy.
The forecast for oil production for this year coincides with the January forecast.
It is expected that in the first quarter of 2023, the average daily oil production in the country will be 670,000 barrels. This is in line with the January forecast. This forecast is 30,000 barrels or 4.28% less than daily oil production figures in the first quarter of 2022.
In the second quarter of 2023, the average daily oil production in Azerbaijan will be 650,000 barrels (coincides with the January forecast). This is 20,000 barrels or 2.99% less than the daily oil production figures for the second quarter of 2022.
The forecast for average daily oil production in Azerbaijan in the third quarter of 2023 will be 640,000 barrels (coincides with the January forecast). This forecast is 10,000 barrels or 1.54% less than in the third quarter of 2022.
In the last quarter of 2023, the forecast for the average daily oil production in Azerbaijan will be 650,000 barrels (the same as the January forecast). This is 20,000 barrels or 2.99% less than the forecast figures for daily oil production in the fourth quarter of 2022.