BAKU, Azerbaijan, July 11. Azerbaijan's oil production volume in 2025 is anticipated to stand at 0.63 mb/d.
According to information obtained by Trend from the International Energy Agency (IEA), the forecast remains unchanged compared to the previous outlook.
The projected oil output for Azerbaijan is expected to reach 0.6 mb/d in 1Q2025, with a slight increase to 0.62 mb/d by 2Q2025.
In 2024, Azerbaijan aims to maintain its crude output at 0.6 mb/d. Specifically, oil production is anticipated to have reached 0.6 mb/d in 1Q2024 and remained steady in 2Q2024. However, a slight uptick to 0.61 mb/d is projected for 3Q2024, followed by a decrease to 0.6 mb/d in 4Q2024.
The IEA estimated Azerbaijan's oil production to have averaged 0.62 mb/d in 2023.
Meanwhile, Azerbaijan produced 14.4 million tons of oil (including condensate) from January to June 2024, compared to 15.2 million tons during the same period in 2023.
Azerbaijan is expected to maintain a total oil and condensate production of approximately 30 million tons in 2024, similar to the level recorded in 2023.