Daily oil production in Azerbaijan amounted to 776,000 barrels in November

In November, daily oil production in Azerbaijan amounted to 776,000 barrels, including 687,000 barrels’ crude oil and 89,000 barrels’ condensate. Daily export of crude oil constituted 577 thousand barrels, while export of condensate and oil products accounted for 82 thousand and 26,4 thousand barrels respectively.

Azerbaijan has completely fulfilled its commitment to reduce the daily production by 20,000 barrels upon the agreement dated December 7, 2018 on the maintenance of the daily oil production capacity at 776,000 barrels. It should be noted that in January-November of the current year the average daily oil production made up 764 thousand barrels.

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

It should be mentioned that the 7th OPEC and non-OPEC ministerial meeting held on December 6 decided to decrease the oil production per day for “OPEC plus” by another 500,000 barrel. According to the new Declaration of Cooperation the commitment for Azerbaijan was set as 27,000 barrel. From next January Azerbaijan should maintain the oil production per day at 769,000 barrel.