EIA retains its forecast for oil production in Azerbaijan in 2022

Average daily oil production in Azerbaijan is predicted to be 670,000 barrels in 2022, Report informs, citing the December issue of the US Energy Information Administration’s (EIA) Short-Term Energy Outlook.

The oil production outlook for 2022 is the same as the outlook given earlier in November.

EIA believes that in the last quarter of 2022, the average daily oil production in Azerbaijan will be 650,000 barrels. This is 10,000 barrels or 1.51% less than the November forecast.

It is also 60,000 barrels or 8.45% less than the daily oil production forecasts of the fourth quarter of 2021.