Azerbaijan’s oil production reached 669,100 bpd for August

11:27 - 9.09.2020


September 9, Fineko/abc.az. Azerbaijan exceeded its obligations within OPEC+ in August.

ABC.AZ reports that in August country's daily oil production was 669,100 bpd.

Last month Azerbaijan's daily production of oil with condensate amounted to 669,100 bpd, including 584,600 bpd accounted for oil production and 84,500 bpd for condensate. Azerbaijan reduced oil production by 133,400 bpd in August. Taking into account the country's obligations to reduce in August by 131,000 bpd from the October 2018 indicator, the country fulfilled its obligations on the OPEC+ deal by 101.8%.

According to the Declaration on Cooperation, Azerbaijan, which produced 718,000 barrels of crude oil per day in October 2018, should reduce crude oil production by 131,000 bpd for August-December of this year and maintain the level of 587,000 bpd. Crude oil production should be reduced from October 2018 levels from 567,000 barrels on ACG to 461,000 barrels, and for SOCAR from 151,000 barrels to 126,000 barrels.

 

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