EIA keeps forecast for Azerbaijan’s oil production for this year unchanged 

Azerbaijan’s daily oil production is expected to make up 740,000 barrels in 2021, Report informs, citing Short-Term Energy Outlook – October 2021 by the US Energy Information Administration (EIA).

The forecast for oil production for this year is the same as in September.

The EIA thinks that the forecast on the daily output was 720,000 barrels in the third quarter of 2021, down 10,000 barrels or 1.37% from September’s projection, while up 60,000 barrels or 9.09% from the same period 2020.

The production in the fourth quarter of 2021 is forecasted at 780,000 barrels, same with the September’s forecast, up 90,000 barrels or 13.04% from the figures in the same period of 2020.