U.S. Energy Information Administration (EIA) raised forecast for Azerbaijan’s oil output in 2019-2020 by 20,000 barrels per day, Report informs citing the EIA.
According to EIA, daily output in Azerbaijan will be 800,000 barrels in 2019, 780,000 barrels in 2020. EIA forecast is 800,000 bpd for the third and fourth quarters of 2019, 790,000 barrels for the first quarter of 2020, 780,000 barrels for the second quarter, 770,000 barrels for the third and fourth quarters.
In March’s report, the forecast was 780,000 barrels for 2019, and 760,000 barrels for 2020. The forecast was 780,000 barrels for the third quarter of 2019, 760,000 barrels for the fourth quarter, 770,000 barrels for the first and the second quarters of 2020, 750,000 barrels for the third quarter and 730,000 barrels for the fourth quarter.