Azerbaijan reports on implementation of OPEC + deal for April

  10 May 2018    Read: 1273
Azerbaijan reports on implementation of OPEC + deal for April

Azerbaijan presented data on its daily oil production in April 2018 to the OPEC Joint Technical Committee as part of the Vienna Agreement, the Azerbaijani Energy Ministry told on May 10.

Daily oil production stood at 785,700 barrels in April 2018, of which 755,700 barrels accounted for crude oil and 30,000 barrels for condensate.

Meanwhile, 623,600 barrels of crude oil, 30,000 barrels of condensate and 21,700 barrels of oil products were exported per day.

The Ministry stressed that Azerbaijan again fully fulfilled its obligations under the oil deal.

Azerbaijan’s average daily oil production stood at 781,900 barrels in 2017 under the OPEC agreement to curb daily crude output by 834,000 barrels, said the ministry.


In January 2018, daily oil production stood at 814,600 barrels, in February 2018 – at 806,000 barrels and in March - 794,000 barrels.

OPEC Joint Technical Committee was created on Jan.22 2017 to monitor the implementation of countries’ commitments to cut oil production.

In December 2016, at a meeting of oil producers in Vienna, 11 non-OPEC member countries, including Azerbaijan, agreed to cut oil production by a total of 558,000 barrels a day. The agreement was concluded for the first half of 2017 and was extended until the end of the first quarter of 2018 at a meeting on May 25, 2017.

At the last OPEC meeting in Vienna, the agreement was again extended until the end of 2018. Azerbaijan supported the decision.

 


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