BAKU, Azerbaijan, September 12. In August 2024, Azerbaijan's oil production stood at 0.48 million barrels per day (mb/d), Trend reports.
The International Energy Agency (IEA) reported that during this period, Azerbaijan fell short of its production quota of 0.55 mb/d by 0.07 mb/d. Despite this, the IEA noted that the country's oil output remained steady in August, matching July’s production levels.
Azerbaijan’s sustainable oil production capacity is currently at 0.49 mb/d, according to the IEA.
From January to August 2024, Azerbaijan produced 19.3 million tons of oil (including condensate), a 4.9% decrease compared to the same period in 2023. However, the country is expected to surpass 30 million tons of oil and condensate by the end of the year.