EIA's 2024 Azerbaijan oil production forecast unchanged

The US Energy Information Administration (EIA) of the Department of Energy has left unchanged its forecast for oil production in Azerbaijan for 2024, according to the October issue of the EIA's Short-Term Energy Outlook, Report informs.

According to the updated EIA data, daily oil production in Azerbaijan this year will be 600,000 barrels (the September forecast was also 600,000 barrels). It is expected that in the third and fourth quarters, production will be 600,000 barrels per day (the September forecast for the third quarter was 600,000 barrels, and for the fourth quarter 610,000 barrels).

In the first quarter of this year, daily oil production was 600,000 barrels, and in the second quarter 590,000 barrels. According to the EIA, in 2023, the production of liquid hydrocarbons in Azerbaijan was at the level of 620,000 barrels per day.