EIA announces Azerbaijan oil production outlook for next year

In 2022, the average daily oil production in Azerbaijan is projected at 800,000 barrels (same as before), Report informs, citing the EIA Short-Term Energy Outlook – October 2021.

In the first quarter of 2022, the daily output will make up 810,000 barrels. It is 70,000 barrels or 9.46% more than the forecast for daily oil production in the first quarter of 2021.

In the second quarter of 2022, the daily oil production in Azerbaijan will be 800,000 barrels, up 110,000 barrels (15.9%) from the second quarter of 2021.

According to the agency, the Azerbaijani daily oil production will stand at 780,000 barrels in the third quarter of 2022. This is the same as the previous forecast and 60,000 barrels (8.33%) higher than the daily production in the third quarter of 2021.

In the last quarter of 2022, Azerbaijan's average daily oil production is forecasted at 810,000 barrels, 30,000 barrels (3.85%) more than the daily oil production in the fourth quarter of 2021.