Azerbaijan cuts daily oil output by 29,000 barrels in August

In August 2019 Azerbaijan produced 749,000 barrels, down 29,000 barrels from July.

Report informs citing Energy Ministry that of this, 686,000 barrels were crude oil, 63,000 barrels – condensate. 501,000 barrels of crude oil, 59,000 barrels of condensate, 4,500 barrels of oil products were exported daily.

In line with the agreement on maintaining daily oil production at 776,000 barrels, Azerbaijan has completely fulfilled its commitment to reduce its output by 20,000 barrels per day.

The average daily oil production in January-August of the current year was 769,000 barrels.

The Ministry of Energy presented information on daily oil production in August to the Joint Technical Commission of the OPEC Joint Monitoring Committee.

The agreement signed on December 7, 2018 to reduce the oil production 1.2 million barrels per day was extended from July 1 to the end of the first quarter of 2020.