EIA remains Azerbaijan’s 2024 daily oil production forecast unchanged

In 2024, average daily oil production in Azerbaijan is projected to be 610,000 barrels, Report informs, citing the July release 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 is the same as the June forecast.

The agency believes that in the third quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 610,000 barrels, the same as the June forecast, and 10,000 barrels, or 1.62%, less than the forecast for daily oil production in the third quarter of 2023.

In the fourth quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 620,000 barrels, the same as the June forecast, and 10,000 barrels, or 1.64%, more than the forecast for daily oil production in the fourth quarter of 2023.