BAKU, Azerbaijan, July 10. Azerbaijan's crude production in June 2024 has been estimated at 479,000 b/d, Trend reports.
According to OPEC's latest data, the country's oil output for the reporting period increased by 13,000 b/d month-on-month, reaching 466,000 b/d in May 2024, which is back to the levels seen in April 2024.
In the second quarter of 2024, Azerbaijan's daily crude output averaged 475,000 b/d, down by 2,000 b/d from 477,000 b/d in the first quarter of 2024 and by 12,000 b/d from 487,000 b/d in the fourth quarter of 2023, the bloc's report reads.
Meanwhile, total non-OPEC Declaration of Cooperation (DoC) crude oil production averaged 14.24 mb/d in June 2024, which is 45,000 b/d lower month-on-month, OPEC added. Crude oil output increased mainly in Kazakhstan and Azerbaijan, while production in Russia decreased.
As per the data received from Azerbaijan's Energy Ministry, from January to May 2024, the country's oil production, including condensate, totaled 12 million tons, marking a decrease of 0.7 million tons compared to the same period in 2023. Similar to last year, the country is expected to produce over 30 million tons of oil and condensate in 2024.