OPEC predicts growth in production of oil, liquid hydrocarbons in Azerbaijan

The Organization of the Petroleum Exporting Countries (OPEC) has retained the forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2021 and 2022, Report informs, citing the organization's document in October.

This year, the forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan has been preserved at the level of 750,000 barrels with an increase of 20,000 barrels.

In 2022, the daily production of liquid hydrocarbons in the country will increase by 70,000 barrels and amount to 820,000 barrels.

In August this year, the production of liquid hydrocarbons in Azerbaijan decreased by 20,000 barrels daily to an average of 720,000 barrels daily, increasing 30,000 tons from the same period last year.

According to the document, the average daily oil production in Azerbaijan during this period amounted to 596,000 barrels, a drop of 110,000 barrels compared to a year ago.