In 2024, average daily oil production in Azerbaijan is projected at 640,000 barrels, Report informs referring to the October release of the Short-Term Energy Outlook of the Energy Information Administration (EIA) of the US Department of Energy.

The oil production forecast for next year coincides with the September forecast.

In the first quarter of 2024, the average daily oil production in the country will be 640,000 barrels. This coincides with the September forecast, 10,000 barrels or 1.54% less than the forecast daily oil production for the first quarter of 2023.

In the second quarter of 2024, daily oil production in Azerbaijan will amount to 630,000 barrels. This is 10,000 barrels or 1.56% less than previously forecast in September, and 10,000 barrels or 1.61% more than daily oil production in the second quarter of 2023.

The forecast for average daily oil production in Azerbaijan in the third quarter of 2024 will be 640,000 barrels. This coincides with the September forecast, 10,000 barrels or 1.59% more than the forecast daily oil production for the third quarter of 2023.

In the last quarter of 2024, the forecast for average daily oil production in Azerbaijan will be 650,000 barrels. This matches the forecast made earlier in September for 20,000 barrels or 3.17% more than daily oil production in the fourth quarter of 2023.