IEA: Azerbaijan's oil production in August lagged behind OPEC+ quota by 70,000 bpd

Oil production in Azerbaijan in August amounted to 480,000 barrels per day (bpd), remaining at the level of July of this year, reads the monthly report of the International Energy Agency (IEA), Report informs.

According to IEA analysts, daily oil production in Azerbaijan in August lagged behind the plan under the OPEC+ deal by 70,000 bpd.

According to the agreement reached at the 36th meeting of OPEC+ ministers, Azerbaijan's oil production quota for 2024 is 551,000 barrels per day.