BAKU, Azerbaijan, September 10. Azerbaijan's daily crude oil production in August 2024 was approximately 480,000 barrels, recent report by S&P Global Commodity Insights said, Trend reports.
Crude oil production (excluding condensate) in Azerbaijan decreased by 10 thousand barrels per day in August compared to July.
The Energy Ministry of Azerbaijan confirmed that the total daily oil production, including condensate, was 76,045 tons. This figure translates to approximately 64,870 tons of crude oil and 11,175 tons of condensate per day, closely aligning with S&P Global's barrel-equivalent estimates.
This reduction comes as part of Azerbaijan's adherence to its quota under the OPEC+ agreement, which stipulates a daily production limit of 551,000 barrels, excluding condensate.
