According to the ministry, 587,000 barrels of this volume accounted for crude oil and 99,200 barrels - for condensate.
According to the ’Declaration of Cooperation’, in October 2018, Azerbaijan, with daily crude oil production of 718,000 barrels, had to maintain crude oil production in August-December of this year of 587,000 barrels per day, reducing the production of crude oil by 131,000 barrels.
The OPEC+ agreement of April 12 provides for the daily production of a total of 7.7 million barrels.
According to the decision taken on December 3, 2020, at the 12th meeting of the OPEC+ ministers, the daily crude oil production in January 2021 by OPEC+ countries will amount to 7.2 million tons. Azerbaijan will cut production by 123,000 barrels. Thus, in January 2021, the proposed daily oil production for Azerbaijan is set at 595,000 barrels.
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