Azerbaijan forecasts oil production growth in 2019

Baku. 26 October. REPORT.AZ/ Oil production in 2019 is predicted to soar 3.4% in Azerbaijan compared to 2017 and make 39,660.1 thsd tons.

Report informs quoting the Ministry of Economy forecasting figures for 2018 and next three years.

It is expected that volume of oil output in Azerbaijan will make 38,372.7 thsd tons by this year end.

Oil production will shrink by 2.2% in Azerbaijan next year compared to 2017 forecast and make 37,534.8 thsd tons.

In 2020, oil production in the country is predicted to climb 3.3% compared to 2017 forecast and make 39,649.5 thsd tons, also to soar 1.2% to 38,846.3 thsd tons in 2021.

Notably, volume of oil production in Azerbaijan in 2016 amounted to 41,050.4 thsd tons.