EIA leaves Azerbaijan’s 2023 daily oil production outlook stable

In 2023, the average daily oil production in Azerbaijan is projected at 640,000 barrels (the same as the previous month’s forecast), Report informs referring to the August issue of the Short-Term Energy Outlook of the Energy Information Administration (EIA) of the US Department of Energy.

The forecast for oil production for this year is the same as compared to the forecast given earlier in July.

The forecast for average daily oil production in Azerbaijan in the third quarter of 2023 will be 640,000 barrels, unchanged compared to the July forecast. This figure is 10,000 barrels, or 1.54%, less than in the third quarter of 2022.

In the last quarter of 2023, the forecast for the average daily oil production in Azerbaijan will be 650,000 barrels (the same as the July forecast). This is 20,000 barrels, or 3%, lower than the forecast figures for daily oil production in the fourth quarter of 2022.