OPEC publishes data on average daily oil production in Azerbaijan in 2024

Azerbaijan's average daily oil production in 2024 was 481,000 barrels, Report informs referring to OPEC's monthly report.

According to the cartel's data, in 2023 the country's average daily oil production was 503,000 barrels.

Thus, in 2024 this indicator decreased by 4.4%. According to the cartel's data, Azerbaijan's average daily oil production in the first quarter of 2024 was 477,000 barrels, in the second quarter - 475,000 barrels, and in the third and fourth quarters - 486,000 barrels.

In December, Azerbaijan's average daily oil production was 485,000 barrels, decreasing by 0.6% or 3,000 b/d compared to November. According to the report, with Azerbaijan's 2024 oil production quota under the OPEC+ deal at 551,000 b/d, actual production in December was 66,000 b/d below the quota.