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Azerbaijan’s Oil Output lagging OPEC quota: Energy Ministry

OIL

Azerbaijan’s total crude and condensate production was 607k b/d in September, down from 620k b/d in August, according to the Energy Ministry.

  • This is down around 7.2% on the year, according to Bloomberg.
  • Azerbaijan’s crude oil output in September was 491k b/d, down 8k b/d on August’s output.
  • Condensate production was 116k b/d, compared to 122k b/d in August.
  • Azerbaijan’s crude oil output is 193k b/d below its OPEC quota for the rest of 2023 of 684k b/d.

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