EIA's 2024 oil production forecast for Azerbaijan remain unchanged

Agshin Rafigoglu
Author

The US Energy Information Administration (EIA) has kept its forecast for Azerbaijan's daily oil production for 2024 unchanged, Report informs.

According to the Short-term Energy Outlook November by the EIA, Azerbaijan’s oil production in the current year will amount to 600,000 barrels per day (October forecast - 600,000 barrels).

Production is expected to be 590,000 barrels per day in the third quarter (October forecast - 600,000 barrels), and 600,000 barrels in the fourth quarter, same as the October forecast.

Oil production in the first quarter of 2024 year was 600,000 barrels per day, while in the second quarter it was 590,000 barrels per day.

According to EIA data, liquid hydrocarbon production in Azerbaijan in 2023 was at the level of 620,000 barrels per day.

Other News

Azerbaijani ambassador highlights energy cooperation with EU at Zagreb forum 13 October, 2026 / 21:27
Ali Asadov chairs meeting on oil refining and petrochemical development 13 October, 2026 / 18:14
Azerbaijan's gasoline and diesel retail sales rise 4% in January-September 13 October, 2026 / 17:29
Azerbaijan fell short of its OPEC+ quota by 103,000 bpd in August 13 October, 2026 / 17:03
OPEC: Oil exports via BTC pipeline rise 8% in August 13 October, 2026 / 17:02
Brent falls to $105.51 per barrel 13 October, 2026 / 11:23
Azeri Light oil price rises to $131.62 per barrel 13 October, 2026 / 10:12
Parviz Shahbazov: Oil market stability also depends on safe energy deliveries 12 October, 2026 / 23:17
Vallourec to supply over 16,000 tonnes of pipes for Azerbaijan's Absheron gas field 12 October, 2026 / 17:54
KazTransOil boosts oil shipments toward BTC 12 October, 2026 / 16:37
Mikayil Jabbarov: SOCAR exploring investment opportunities with Cambodia 12 October, 2026 / 16:36
President approves agreement on exploration, development and production sharing in Guba-Caspian region 12 October, 2026 / 15:35
Aramco CEO warns 'squeeze on crude oil is serious' 12 October, 2026 / 14:38
OPEC cuts 2026 oil demand growth forecast to 400,000 bpd 12 October, 2026 / 14:23
Gran Tierra Energy registers local branch in Azerbaijan 10 October, 2026 / 12:00
Azeri Light oil price falls by 1.82% to $130.81 per barrel 10 October, 2026 / 11:34
Saudi Aramco to deliver full agreed oil volumes to Europe in November 09 October, 2026 / 21:46
Slovakia сonsiders long-term gas supplies from Azerbaijan 09 October, 2026 / 21:44
SOCAR outperforms 83% of oil and gas companies in S&P Global assessment 09 October, 2026 / 21:17
AIIB and ADB to provide $2 million for Caspian green energy corridor study 09 October, 2026 / 16:11