Daily oil production in Azerbaijan amounted to 778,000 barrels in July

In July, daily oil production in Azerbaijan amounted to 778,000 barrels, including 704,000 barrels crude oil and 74,000 barrels condensate. Daily export of crude oil constituted 500 thousand barrels, while export of condensate and oil products accounted for 70 thousand and 29 thousand barrels respectively.

It should be noted that in January-July of the current year the average daily oil production made up 771.7 thousand barrels.

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

“Declaration of Cooperation” signed on December 7, 2018 on the reduction of oil production for “OPEC plus” by 1.2 million barrels per day was extended from July 1 of the current year till the end of the first quarter of 2020.