Forecast from a reputable agency: oil production to increase gradually


January 25, Fineko/abc.az. Rating agency S&P Global Ratings has published a forecast on the oil production in Azerbaijan this year.

ABC.AZ reports that S&P expects the country's daily crude oil production to average about 610,000 barrels in 2021. Analysts believe this indicator generally corresponds to the level of 2020.

S&P’s report also says that Azerbaijan's crude oil production will gradually return to the 2019 level of 713,000 barrels after April 2022, when the current OPEC+ oil production deal is terminated.