EIA increases Azerbaijan’s 2024 daily oil production forecast

In 2024, average daily oil production in Azerbaijan is projected to be 610,000 barrels, Report informs, citing the Short-Term Energy Outlook of the Energy Information Administration (EIA) of the US Department of Energy.

The oil production forecast for this year is 10,000 barrels or 1.67% more than the December forecast.

The agency believes that in the first quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 610,000 barrels. This is 20,000 barrels or 3.39% more than predicted in December, and 40,000 barrels or 6.15% less than the forecast for daily oil production in the first quarter of 2023.

In the second quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 610,000 barrels. This is 10,000 barrels or 1.67% more than predicted in December, and 10,000 barrels or 1.61% less than the forecast for daily oil production in the second quarter of 2023.

In the thiurd quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 610,000 barrels. This is 10,000 barrels or 1.67% more than predicted in December, and 10,000 barrels or 1.61% less than the forecast for daily oil production in the third quarter of 2023.

In the fourth quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 620,000 barrels. This is 10,000 barrels or 1.64% more than predicted in December, and 10,000 barrels or 1.64% more than the forecast for daily oil production in the fourth quarter of 2023.