EIA lowers 2025 oil and condensate production forecast for Azerbaijan

The US Energy Information Administration (EIA) has revised downward its forecast for Azerbaijan's liquid hydrocarbon production in 2025.

Report informs, citing EIA's monthly bulletin, that the agency now expects oil and condensate output in Azerbaijan to average 0.57 million barrels per day (bpd) this year, down from the May forecast of 0.62 million bpd — a reduction of 0.05 million bpd.

Detailed quarterly projections are as follows:

Q1 (actual): 0.57 million bpd

Q2 (forecast): 0.57 million bpd (previously 0.62 million bpd)

Q3 (forecast): 0.56 million bpd (previously 0.64 million bpd)

Q4 (forecast): 0.56 million bpd (previously 0.63 million bpd)

This implies quarterly downward revisions of:

Q2: -0.05 million bpd

Q3: -0.06 million bpd

Q4: -0.07 million bpd

For comparison, in 2024, Azerbaijan produced an average of 0.60 million bpd, with:

Q1: 0.60 million bpd

Q2 and Q3: 0.59 million bpd

Q4: 0.60 million bpd

The EIA’s latest figures reflect a projected continued decline in oil and condensate output in Azerbaijan for 2025.