EIA cuts 2026 forecast for oil and condensate production in Azerbaijan

The Energy Information Administration of the US Department of Energy (EIA) has reduced its forecast for liquid hydrocarbon production in Azerbaijan for 2026 by 10,000 barrels per day (bpd), Report informs referring to EIA data.

According to the May review of the EIA, the Administration expects oil and condensate production in Azerbaijan in 2026 at the level of 0.60 million bpd (April forecast - 0.61 million bpd).

At the same time, production will amount to 0.62 million bpd (April forecast - 0.63 million bpd) in the first quarter, 0.61 million bpd (0.61 million bpd) in the second quarter, 0.6 million bpd (0.60 million bpd) in the third quarter, and 0.59 million bpd (0.60 million bpd) in the fourth quarter. In 2024, the country's liquid hydrocarbon production amounted to 0.6 million bpd.

The figure was at the level of 0.6 million bpd in the first quarter of the year, 0.59 million bpd in the second and third quarters, and 0.6 million bpd in the fourth quarter.