Azerbaijan fulfills OPEC plus commitment in October


In October this year, the country’s daily oil production (including condensate) was 675.2 thousand barrels, said the Azerbaijani Energy Ministry.

Report informs that 587,000 barrels were crude oil, and 88,200 barrels- condensate.

According to the Declaration of Cooperation, Azerbaijan, which produced 718,000 barrels of crude oil per day in October 2018, must maintain crude oil production in August-December this year at 587,000 barrels, reducing by 131,000 barrels per day. Thus, in October, Azerbaijan fulfilled its OPEC plus commitment by 100 percent, producing an average of 587,000 barrels per day of OPEC plus crude oil.

The second phase of the April 12 OPEC plus agreement, which reduces total crude oil production by 7.7 million barrels, covers the period from August 1 to December 31.