(MENAFN- Trend News Agency)
BAKU, Azerbaijan, August 11. Azerbaijan
produced 659,000 barrels of oil per day, including condensate in
July 2022, of which 549,900 barrels accounted for crude oil and
109,100 barrels were condensate, Trend reports citing the country's
Energy Ministry.
In accordance with the decision taken at the 29th meeting of the
ministers of the OPEC + countries, Azerbaijan committed itself to
cut oil production by 12,000 barrels in June. The country's oil
production quota in July was 706,000 barrels or 10,000 barrels more
month-on-month.
As such, Azerbaijan fulfilled its obligations under the OPEC +
agreement by almost 128 percent.
Azerbaijan has been reducing oil output every month as part of
the OPEC+ deal. The country overfulfills production quotes each
month under this agreement. Azerbaijan's daily oil production for
September is set at 718 000 barrels, as the 31st OPEC and non-OPEC
Ministerial Meeting decided to adjust upward the production level
for OPEC+ by 0.1 mb/d for the month of September 2022.
This adjustment does not affect the baselines decided on the
Meeting on 18 July 2021. The meeting participants reaffirmed the
decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12
April 2020 and further endorsed in subsequent meetings including
the 19th OPEC and non-OPEC Ministerial Meeting on the 18 July
2021.
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