Azerbaijan increases oil production in May, fulfills OPEC obligations

12/06/2019 09:04 Oil Market

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Azerbaijan increased oil production from 683,000 barrels per day in April to 776,000 barrels per day in May, while the country fulfils its obligations under the OPEC + deal, Trendreports referring to the Azerbaijani Energy Ministry.

"The daily oil production amounted to 776,000 barrels in May, 699,000 barrels of that volume accounted for crude oil, while 77,000 barrels - condensate production,” the Azerbaijani Energy Ministry said.

 

According to the ministry, the daily volume of export of crude oil from Azerbaijan in May amounted to 494,000 barrels, condensate - 75,000 barrels, oil products - 14,000 barrels.

 

According to the Energy Ministry, the average daily oil production amounted to 771,200 barrels in Azerbaijan for five months. That is, the oil production in the country was within the commitments undertaken under the OPEC + agreement. Azerbaijan has agreed to reduce oil production by 20,000 barrels per day since 2019 compared to September 2018, that is, up to the level of 776,000 barrels per day.

Source: trend.az

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