OPEC says Azerbaijan's oil production to rise slightly in 2014

The Organization of Petroleum Exporting Countries (OPEC) has predicted that Azerbaijan's oil production will slightly increase by 10,000 barrels per day (bpd) to 0.88 million bpd in 2014, Azernews reported on February 15.

In its February oil market report, OPEC said the forecasts show the highest level of the country's oil production in 2014 will be observed in the fourth quarter - at 0.89 million bpd. In the first and second quarters of the year the production will amount to 0.86 million bpd, in the third quarter - to 0.88 million bpd.

Meanwhile, the U.S. Energy Information Administration's (EIA) has predicted that Azerbaijan's oil production will decrease by 30,000 bpd to 0.85 million bpd in 2014 and by 50,000 bpd to 0.8 million bpd in 2015,

Copyright: Azernews, 2014