OPEC says Azerbaijan's oil production to rise by end-2014

April 15, 2014

OPEC predicts Azerbaijan's oil production to amount to 0.87 million barrels per day (bpd) on average in 2014, Azernews reported on April 14.

OPEC's April oil market report said the production in the country will reach 0.89 million bpd in the fourth quarter as the highest production level of the year. OPEC estimates the country's oil production in the first quarter of 2014 was steady at 0.83 million bpd. In the second quarter, Azerbaijan's oil production is predicted at 0.86 million bpd, in the third quarter at 0.88 million bpd, in the fourth quarter at 0.89 million bpd.

The U.S. Energy Information Administration (EIA) predicts Azerbaijan's oil production at 0.84 million bpd and 0.83 million bpd in the third and fourth quarters of 2014 and 0.88 million bpd and 0.86 million bpd in the first and second quarters, respectively. Azerbaijan is predicted to extract 43 million tons of oil in 2014.

Copyright: Azernews, 2014