Azerbaijan overfulfills obligations under OPEC+ deal

Azerbaijan overfulfills obligations under OPEC+ deal

Azerbaijan produced 704,400 barrels of oil per day, including condensate in October 2021, of which 585,900 barrels accounted for crude oil and 118,500 barrels were condensate, according to the country's Energy Ministry.

In accordance with the decision taken at the 20th meeting of the ministers of the OPEC + countries, Azerbaijan committed itself to cut oil production by 78,000 barrels in October.

The country's oil production quota in October was 640,000 barrels.As such, Azerbaijan fulfilled its obligations under the OPEC + agreement by 109.2%. 

According to the agreement reached at the 21st meeting of ministers, Azerbaijan pledged to reduce production by 71,000 barrels per day in November and thereby produce 64,000 barrels of crude oil more than in the previous month.

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