Daily oil production in Azerbaijan reached 776,000 in November


December 10, Fineko/abc.az. The daily oil production of Azerbaijan for November amounted to 776,000 barrels, including 687,000 barrels of crude oil, 89,000 barrels of condensate, and the daily export totaled 577,000 barrels of crude oil, 82,000 barrels of condensate, 26,400 barrels of petroleum products.

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

Within the framework of the agreement from 7 December 2018 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–Nov 2019 the average daily oil production amounted to 764,000 barrels.

OPEC+ made a decision to cut the daily oil production by another 500,000 barrels at the 7th meeting of the ministers of OPEC and non-OPEC countries on 6 December.

In accordance with the new Declaration on Cooperation, the obligation of Azerbaijan is defined at the level of 27,000 barrels. From January 2020 Azerbaijan should maintain the daily oil production in the amount of 769,000 barrels.