Daily oil production in Azerbaijan amounted to 798,000 barrels in March |Ministry of Energy of Azerbaijan

In March, daily oil production in Azerbaijan amounted to 798,000 barrels, including 714,000 barrels crude oil and 84,000 barrels condensate. Daily export of crude oil constituted 586 thousand barrels, while export of condensate and oil products accounted for 84 thousand and 19.7 thousand barrels respectively.

The Ministry of Energy presented data on daily oil production in March to the Joint Technical Commission of the Joint Monitoring Committee of OPEC.

It should be noted that in first quarter of the current year the average daily oil production made up 799 thousand barrels.

At the 5^th Ministerial Meeting of Member and Non-member Countries of the Organization of Petroleum Exporting Countries (OPEC) held in Vienna on December 7, 2018, it was agreed to reduce the oil production by 1.2 million barrels a day. According to the new decision Azerbaijan has committed itself to reduce daily production by approximately 20 thousand barrels from January 2019.