ECONOMY


Azerbaijan supports “OPEC plus” decision to increase daily oil output by 432,000 barrels in May

Baku, March 31, AZERTAC

At the 27th Ministerial Meeting of the OPEC and non-OPEC countries, Azerbaijan also agreed to increase daily oil output by 432,000 barrels in May 2022, the Ministry of Energy told AZERTAC.

The growth was determined at the 19th meeting held in July last year according to the agreement on partial changes to the base indicators of oil production.

As there are no changes to the basic indicators for Azerbaijan, the country's daily crude oil output is expected to increase by 7,000 barrels to 688,000 barrels in May 2022, and the reduction commitment will be 30,000 barrels.

The 28th Ministerial Meeting of the OPEC plus countries will be held on 5 May.

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