BAKU, Azerbaijan, August 13. Azerbaijan's oil production is expected to reach 0.63 mb/d in 2025, according to the latest data obtained by Trend from the International Energy Agency (IEA).
This forecast remains consistent with the previous outlook.
Projections for 2025 indicate that Azerbaijan's oil output will start at 0.6 mb/d in the first quarter and increase slightly to 0.62 mb/d by the second quarter.
In 2024, Azerbaijan plans to sustain crude production at around 0.6 mb/d. During the second quarter of 2024, output is expected to be around 0.59 mb/d, with a slight rise to 0.61 mb/d in the third quarter, before settling back to 0.6 mb/d in the fourth quarter.
The IEA estimated that Azerbaijan's average oil production in 2023 was 0.62 mb/d.
Meanwhile, 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.