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Daily oil production reached 718,000 for October

12.11.2019,11:31


November 12, Fineko/abc.az. The daily oil production of Azerbaijan for October amounted to 718,000 barrels, including 644,000 barrels of crude oil, 74,000 barrels of condensate, and the daily export totaled 569,000 barrels of crude oil, 76,000 barrels of condensate, 9,500 barrels of petroleum products.

ABC.AZ reported on the occasion with reference to the Ministry of Energy.

Within the framework of the agreement on the daily keeping of oil production within 776,000 barrels, Azerbaijan has fully fulfilled its obligation on oil production cuts by 20,000 bpd. Over Jan–Oct 2019 the average daily oil production amounted to 762,000 barrels.
The term of the Declaration on Cooperation, signed by OPEC+ on 7 December 2018 in connection with the daily oil production reduction by 1.2 million barrels, was extended from 1 July 2019 to the end of the 1st quarter of 2020.