BAKU, Azerbaijan, October 8. 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 maintained its outlook for the country's oil production.
For 2025, the EIA predicts that production will stand at 0.62 mb/d in the first quarter, rising to 0.63 mb/d in the second quarter. Growth is projected to continue, reaching 0.65 mb/d in both the third and fourth quarters of the year.
In 2024, oil production is expected to stand at 0.60 mb/d.
According to the latest data, between January and September 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.