Azerbaijan supported the decision of OPEC plus to increase daily oil output by 432 thousand barrels in May

At the 27th Ministerial Meeting of the OPEC and non-OPEC countries, Azerbaijan supported the decision made on increasing daily oil production on OPEC plus by 432 thousand barrels for the May 2022. The growth was determined at the 19th meeting held in July last year according to the agreement on partial changes to the base indicators of oil production.

As there are no changes to the basic indicators for Azerbaijan, the country's daily crude oil output is expected to increase by 7,000 barrels to 688,000 barrels in May 2022, and the reduction commitment will be 30,000 barrels.

It should be noted that it was agreed to hold the 28th Ministerial Meeting of the OPEC plus countries on 5 May.