EIA releases oil production forecast for Azerbaijan for 2027

The Energy Information Administration (EIA) of the US Department of Energy forecasts average daily oil production in Azerbaijan at 540,000 barrels in 2027, reads the March issue of the EIA Short-Term Energy Outlook, Report informs.

In February, the agency forecast the same oil production volume for 2027.

The US Department of Energy expects average daily oil production in the country at 550,000 barrels in the first quarter of next year, 540,000 barrels in the second quarter, and 530,000 barrels in the third and fourth quarters of 2027.

Similar figures were also forecast in the February issue of the update.