EIA lowers Azerbaijan oil output forecast for 2026

The US Energy Information Administration (EIA) has lowered its forecast for Azerbaijan's daily oil production for 2026, according to the February edition of the EIA's Short-Term Energy Outlook, Report informs.

According to the updated data, oil production in Azerbaijan is expected to total 540,000 barrels per day this year. Last year, the figure stood at 570,000 barrels per day, which is 30,000 barrels, or 5.3%, less in comparison.

Oil production is projected to reach 550,000 barrels per day in the first quarter of this year, unchanged from the forecast announced in January.

In the second quarter, daily oil output is expected to amount to 540,000 barrels, which is also the same as last month's projection.

Production is forecast at 530,000 barrels per day in the third and fourth quarters of this year, in line with the January forecast for the same periods.

Oil production amounted to 570,000 barrels per day in the first and second quarters of 2025, and 560,000 barrels per day in the third and fourth quarters.

According to the EIA, liquid hydrocarbon production in Azerbaijan averaged 570,000 barrels per day in 2025.