BAKU, Azerbaijan, September 11. Azerbaijan's oil output is forecasted to reach 0.64 million barrels per day (mb/d) in 2025, Trend reports.
As such, the US Energy Information Administration (EIA) has revised its outlook for Azerbaijan’s oil production, lowering the estimate by 0.01 mb/d from its previous projection.
In 2024, oil production is expected to increase by 0.04 mb/d, bringing it to an estimated 0.60 mb/d.
For 2025, the EIA predicts that production will stand at 0.62 mb/d in the first quarter, rising to 0.64 mb/d in the second quarter. Growth is projected to continue, reaching 0.66 mb/d in both the third and fourth quarters of the year.
In 2024, Azerbaijan is expected to produce 0.60 mb/d in the third quarter, with a slight rise to 0.61 mb/d by the fourth quarter.
Between January and August 2024, Azerbaijan produced 19.3 million tons of oil (including condensate), reflecting a 4.9 percent drop from the same period in 2023. Nevertheless, the country is projected to exceed 30 million tons of oil and condensate by the end of 2024.