EIA changes Azerbaijan's Q2 oil production volume forecast

The US Energy Information Administration (EIA) has changed its forecast for Azerbaijan's average daily oil production for the second quarter of 2021, Report informs, referring to Short-Term Energy Outlook – May 2021.

According to the EIA, Azerbaijan's daily oil production in the second quarter of 2021 will make up 720,000 barrels, which is 10,000 barrels or 1.37% less than April’s forecast.

At the same time, this forecast is up 30,000 barrels or 4.35% from a year earlier.

The daily output in Azerbaijan is forecasted at 740,000 barrels in 2021, while the previous forecast was 750,000 barrels.