Daily oil production in Azerbaijan amounted to 683,000 barrels in April

In April, daily oil production in Azerbaijan amounted to 683,000 barrels, including 605,000 barrels crude oil and 78,000 barrels condensate. Daily export of crude oil constituted 390 thousand barrels, while export of condensate and oil products accounted for 75 thousand and 19 thousand barrels respectively.

Azerbaijan has completely fulfilled its commitment to reduce the daily production by 20,000 barrels upon the agreement on the maintenance of the daily oil production capacity at 776,000 barrels. It should be noted that in January-April of the current year the average daily oil production made up 770 thousand barrels.

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

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.  The implementation of “Declaration of Cooperation” has been planned for the first half of 2019.