EIA lowers forecast for Azerbaijan’s oil output

The U.S. Energy Information Administration lowered its forecast for Azerbaijan’s 2020 oil production by 40,000 barrels to 710,000 barrels on average, Report informs, citing the Short-Term Energy Outlook (STEO). 

According to the Outlook, the daily oil production in Azerbaijan is forecasted at 740,000 barrels in 2021, up 10,000 barrels from the previous forecast.