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Azerbaijan Falls Short of OPEC+ Export Quota: Interfax

OIL

Azerbaijan’s oil production in July lagged the OPEC+ quota by 185k b/d in July, according to Interfax.

  • Oil production totalled 499k b/d in July, stable versus the 500k b/d recorded in June. It also produced 122k b/d of condensates.
  • This is around 27% below its 684k b/d monthly production quota as part of the OPEC+ deal for the remainder of 2023.
  • Oil exports for Jan-July from Azerbaijan were also down by 4.5% compared to the same period in 2022, according to the Azerbaijan Energy Ministry.

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