Azerbaijan fulfilled its obligations to OPEC in September

Azerbaijan fulfilled its obligations to OPEC in September
785,7 thousand barrels of oil were produced in September

Baku. 3 October. REPORT.AZ/ In accordance with the agreement reached on reduction of oil production by member states of Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries in Vienna on December 10, 2016, Azerbaijan has submitted information on daily oil production during September 2017, to the Joint Technical Commission of Joint Monitoring Committee. In September, 785,7 thousand barrels of oil were produced in the country.

Report informs, press service of Ministry of Energy stated.

According to information, 733 thousand barrels of this volume were crude oil and 52,7 thousand barrels of condensate. Daily 627 thousand barrels of crude oil, 52,7 thousand barrels of condensate, 19,3 thousand barrels of oil products were exported.

Average daily production amounted to 793,900 barrels in January, 776,400 barrels in February, 733,300 barrels in March, 781,1 thousand barrels in April, 785,3 thousand barrels in May, 793,7 thousand barrels in June, 796,7 thousand barrels in July, 734,8 thousand barrels in August. Thus, in accordance with agreement reached between 11 countries to reduce output, Azerbaijan was repeatedly announced as a leading country that has fully implemented its commitments.

Notably, on November 30, 2016 OPEC countries have agreed to reduce daily oil output by 1.2 mln barrels to keep it at 32.5 mln barrels/day. On December 10, in Veinna 11 non-member countries, including Azerbaijan signed agreement with OPEC to reduce overall daily production by 558,000 barrels. The agreement was concluded for the first quarter of 2017. An agreement was reached on extension of deal till first half year of 2018.

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