EIA releases oil production forecast in Azerbaijan for 2024

In 2024, the average daily oil production in Azerbaijan is projected at 610,000 barrels, Report informs referring to the August issue of 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 July one. According to the EIA, in the first quarter, the actual average daily oil production was 600,000 barrels, and in the second quarter 590,000 barrels.

The agency believes that in the third quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 610,000 barrels, which coincides with the July forecast.

The forecast for average daily oil production in the last quarter of 2024 will be 620,000 barrels, which also coincides with the July forecast.