BAKU, Azerbaijan, October 6. EIA raised its forecast for Azerbaijan's average oil and other liquid hydrocarbon production in 2027 to 0.53 million barrels per day from 0.52 million barrels per day in its September forecast.
This was reported in the October forecast by the U.S. Energy Information Administration (EIA).
According to the forecast, the figure will decline compared to the estimated 2025 level of 0.58 million barrels per day.
In the first quarter of 2026, production averaged 0.56 million barrels per day, and in the second quarter, 0.55 million barrels. This figure is expected to remain at 0.55 million barrels in the third and fourth quarters.
According to EIA forecasts, this trend will continue into 2027. Specifically, production in the first quarter of that year is projected to be 0.54 million barrels per day, 0.53 million barrels in the second quarter, and 0.52 million barrels in both the third and fourth quarters.
Meanwhile, the latest data from Azerbaijan’s State Statistics Committee show that 17.692 million metric tons of crude oil (including gas condensate) were produced in the country from January through August of this year.
According to Trend’s estimates, this figure decreased by 698,800 metric tons, or 3.8%, compared to the same period last year.
During the reporting period, marketable crude oil accounted for 17.648 million metric tons of the total crude oil production, which is 701,100 metric tons, or 3.8%, less than the figure for the same period of the previous year.
According to the latest report from the State Customs Committee, in the period from January through August 2026, Azerbaijan exported 14.678 million metric tons of crude oil and petroleum products derived from bituminous rocks, worth $9.282 billion.
According to Trend’s calculations based on the agency’s data, this figure increased by $886 million, or 10.6%, in value terms compared to the same period last year, while it decreased by 1.247 million metric tons, or 7.8%, in physical terms.
