EIA announces forecast on Azerbaijan’s daily oil production for 2022

The daily average oil production in Azerbaijan is expected to be 790,000 barrels in 2022, Report informs, down 10,000 barrels or 1.25% from the previous forecast, with reference to EIA Short-Term Energy Outlook – May 2021.

In the first quarter of 2022, the daily output is expected to be 790,000 barrels, up 50,000 barrels or 6.76% from this year’s forecast.

In the second quarter of 2022, the production is forecasted to reach 800,000 barrels, which is 80,000 barrels or 3.9% higher than the forecast for the second quarter of this year.

According to the agency, output in the third quarter of 2022 will be 770,000 barrels, 10,000 barrels or 1.28% less than the previous forecast, and 40,000 barrels or 5.5% more than the forecast for the third quarter of this year.

The forecast for average daily oil production in the fourth quarter of 2022 is 800,000 barrels, down 10,000 barrels or 1.23% less than the forecast in April, up 30,000 barrels or 3.9% from the forecast for the fourth quarter of this year.