Baku, Azerbaijan, June 4
By Leman Zeynalova – Trend:
Azerbaijan’s crude oil exports stood at 601,600 barrels per day in 2018, as compared to 615,300 barrels per day in 2017, decreasing by 2.2 percent year-on-year, Trend reports citing OPEC Annual Statistical Bulletin.
This is while the exports of crude oil and petroleum products by the country dropped by 1.9 percent year-on-year from 640,100 b/d in 2017 to 627,900 b/d in 2018, reads the report.
The cartel said that crude oil production in Azerbaijan dropped from 729,200 b/d in 2017 to 725,000 b/d in 2018, showing a decline of 0.6 percent year-on-year.
This is while the output of petroleum products in the country increased from 107,000 b/d in 2017 to 114,000 b/d in 2018, showing a rise of 7 percent y-o-y, according to OPEC data.
Azerbaijan’s refinery throughput increased from 113, 000 b/d in 2017 to 116,000 b/d in 2018 showing a 2.8 percent increase y-o-y.
Azerbaijan has reduced daily production by 20,000 barrels since January 1, 2019 as part of the agreement to reduce daily oil production by 1.2 million barrels at the 5th OPEC and non-OPEC Ministerial Meeting in Vienna on December 7, 2018.
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