EIA downgrades forecast for Azerbaijan’s oil production in Q2 

The US Energy Information Agency (EIA) has cut its forecast on Azerbaijan’s daily oil production for the second quarter, Report informs, citing “Short-Term Energy Outlook – June 2021”.

According to the new forecast, the daily output in the country will be 710,000 barrels, which is 10,000 barrels or 1.39% less than May’s forecast. Moreover, this figure is 20,000 barrels, or 2.9% higher than the same period in 2020.

In 2021, Azerbaijan is forecasted to produce 730,000 barrels of oil per day, while the previous forecast was 740,000 barrels a day.