The Azerbaijan State News Agency

ECONOMY

Azerbaijan fulfills its obligations on OPEC+ deal in February 2021

17.03.2021 [13:00]
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Baku, March 17, AZERTAC

Azerbaijan has fulfilled its obligations in February 2021 on the agreement reached on reduction of oil production by member states of Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries by maintaining its production of crude oil at 741 thousand barrels, including 593 thousand barrels’ crude oil and 148 thousand barrels’ condensate, the Energy Ministry told AZERTAC.

At the 13th and 14th Ministerial Meetings of the OPEC + countries, it was decided to continue the existing quotas on daily crude oil production in February-March-April. According to the new agreements, the daily crude oil production of OPEC plus countries will be 595 thousand barrels during the above-mentioned period. Azerbaijan's commitment of 123 thousand barrels in January this year will remain unchanged in February-March-April.