EIA cuts Azerbaijan’s 2021 oil production forecast 

Azerbaijan is expected to produce 740,000 barrels a day, down 10,000 barrels or 1.33% from the previous forecast, Report informs, referring to EIA Short-Term Energy Outlook – May 2021.

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 EIA thinks that the daily output in the third quarter of 2021 will be 730,000 barrels, showing a 70,000 barrels or 10.6% growth in comparison to a year earlier.

The fourth quarter’s forecast is 770,000 barrels a day, which is 80,000 barrels or 11.6% higher than a year ago.