OPEC Forecasts Almost 20% Rise in Supply of Azerbaijani Oil to World Markets

Oil&Gas Materials 3 September 2008 11:26 (UTC +04:00)

Azerbaijan, Baku, 3 September/ Trend , corr A. Badalova/ The average volume of oil supply from Azerbaijan will total to 1.02mln barrels a day in 2008 which is more than by 155,000 barrels a day as compared to the figure of 2007, said OPEC August report on oil market posted on the official website of the Organization.

This indicator is 25,000 barrels less than the volume forecast by OPEC last month. The report says the explosion in Baku-Tbilisi-Ceyhan pipeline will affect oil output in Azerbaijan. According to OPEC forecast, in the third quarter of 2008 the oil output in Azerbaijan will total to 1mln barrels a day and 1.09mln barrels a day in the fourth quarter.

According to OPEC forecast, in 2008 oil output of Kazakhstan will make up 1.48mln barrels a day which is 80,000 barrels more than the output of 2007. The oil output of Kazakhstan will amount to 1.37mln barrels a day in the third quarter of current year and 1.5mln barrels a day in the fourth quarter.

The total oil output in the former Soviet Union countries will comprise 13.22mln barrels a day in 2009.

OPEC report said the total oil export in post soviet countries will make up 8.74mln barrels a day on average in 2008 which is 0.19mln barrels more than the export of 2007. In the third quarter of 2008, the oil export will make up 8.72mln barrels a day and 8.68mln in the fourth quarter. In 2009, the volume of oil export of these countries will go up by 0.36mln barrels a day to 9.1mln barrels.

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