ECONOMY


OPEC raises its forecast on oil production in Azerbaijan for 2023

OPEC raises its forecast on oil production in Azerbaijan for 2023

Baku, January 18, AZERTAC

The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of petroleum and other liquid hydrocarbons in Azerbaijan for 2023, according to OPEC's latest monthly oil market report.

In 2023, Azerbaijan’s petroleum and other liquid hydrocarbons is expected to be 800,000 barrels per day, which means an increase of 60,000 barrels compared to the previous year and 1000 barrels more than the previous forecast.

According to the report, in 2022, this indicator was at the level of 700,000 barrels on average.

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