(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 17. Azerbaijan's oil production is projected to average 0.54 million barrels per day (mb/d) in 2026, according to the latest forecast from the U.S. Energy Information Administration (EIA), Trend reports.

The EIA has left its outlook for the country's crude output unchanged from its previous projection.

In 2026, production is expected to start at 0.55 mb/d in the first quarter, ease to 0.54 mb/d in the second quarter, and then decline slightly to 0.53 mb/d in the third and fourth quarters.

For 2025, the EIA also maintained its estimate, forecasting average daily output at 0.57 mb/d. Production is projected at 0.57 mb/d for both the first and second quarters, with a marginal decrease to 0.56 mb/d in the second half of the year.

Operational data for January–June 2024 shows total oil production, including condensate, at 13.7 million tons. Of this, the Azeri–Chirag–Gunashli (ACG) field contributed 8 million tons, Shah Deniz 1.9 million tons of condensate, and Absheron 0.3 million tons of condensate. SOCAR's production, including condensate, totaled 3.5 million tons.

Oil exports, including condensate, reached 11.6 million tons in the first half of 2024. The ACG consortium accounted for 9.9 million tons, SOCAR for 1.4 million tons, and Absheron for 0.3 million tons.

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