EIA upgrades forecast on Azerbaijan’s Q4 oil production

Azerbaijan’s daily oil production is forecasted to make up 780,000 barrels in the fourth quarter of 2021, Report informs, citing the EIA Short-Term Energy Outlook – September 2021.

This figure is 20,000 barrels, or 2.63% more than August’s forecast, 90,000 barrels or 13.04% than the indicators of the fourth quarter of 2020.

In 2021, the daily output is expected to make up 740,000 barrels, while according to last month’s forecast, this figure was 720,000 barrels.