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Azerbaijan Oil Output to Fall 6.7% on Year

OIL

Azerbaijan’s crude and condensate output is expected to be 30.5m mt in 2023, down 6.7% on the year, according to Bloomberg citing a report of Azerbaijan’s State Chamber of Accounts.

  • This is equivalent to around 627k b/d, Bloomberg said.
  • Oil production in 2024 is expected to fall a further 3.2% on the year to 29.5m mt.
  • In the first nine months of 2023, Azerbaijan produced 22.5m mt of oil and condensates, down 7.8% on the year.

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