ECONOMY


Azerbaijan produces 597,100 barrels of oil per day in December last year

Baku, January 12, AZERTAC

In December 2021, daily oil production (including condensate) in Azerbaijan amounted to 717,600 barrels, including 597,100 barrels' crude oil and 120,500 barrels' condensate, the Ministry of Energy told AZERTAC.

Under the "Declaration of Cooperation" adopted at the 22nd ministerial meeting of OPEC plus, Azerbaijan was to cut the production by 64,000 barrels per day in December and increase the daily crude oil output by 7,000 barrels to 654,000 barrels per day compared to November.

The agreement reached at the 23rd ministerial meeting envisages an increase in daily crude oil production in Azerbaijan by another 7,000 barrels to 661,000 barrels in January 2022 and a commitment to reduce the output by 57,000 barrels.

 

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