EIA maintains forecast for 2023 average daily oil production in Azerbaijan

In 2023, average daily oil production in Azerbaijan is projected to be 620,000 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 coincides with the November forecast.

The agency believes that in the last quarter of 2023, the forecast for average daily oil production in Azerbaijan will be 600,000 barrels. This is also 20,000 barrels or 3.22% less than predicted in November, and 70,000 barrels or 10.44% less than the forecast for daily oil production in the fourth quarter of 2022.