EIA announces its forecast on Azerbaijan’s oil production in Q1

U.S. Energy Information Administration (EIA) left its forecast for Azerbaijan’s average daily oil production for the first quarter of 2021 unchanged, Report informs, citing Short-Term Energy Outlook – April 2021.

According to the forecast, the average daily production in the first quarter will make up 750,000 barrels, down 20,000 barrels or 2.6% from the first quarter of 2020, up 60,00 barrels or 8.7% from the fourth quarter of 2020.
Azerbaijan’s daily production is expected to be 750,000 barrels in 2021, while the previous forecast was 770,000 barrels.