BAKU, Azerbaijan, August 12. Azerbaijan's crude production in July 2024 has been estimated at 485,000 b/d, Trend reports.
According to OPEC's latest data, the country's oil output in the reporting period increased by 4,000 b/d month-on-month (481,000 b/d in June 2024). This volume also increased by 22,000 b/d, compared to May 2024 output.
In 1Q2024, Azerbaijan's daily crude output totaled 477,000 barrels - down by 10,000 b/d from 487,000 b/d in 4Q2023, while in 2Q2024 the country's production level stood at 474,000 b/d, the bloc's report says.
Meanwhile, non-OPEC DoC crude oil production averaged 14.16 mb/d in July 2024, down by 68,000 b/d month-on-month, with significant declines in output from Kazakhstan, Russia, and South Sudan.
Azerbaijan produced nearly 16.9 million tons of oil (including condensate) from January through July 2024, up 4.52 percent compared to 17.7 million tons in the same period in 2023. The country is expected to produce over 30 million tons of oil and condensate in 2024.