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OPEC believes that in 2017 oil extraction in Azerbaijan to go down by 2 million tons

OPEC believes that in 2017 oil extraction in Azerbaijan to go down by 2 million tons
14.07.2016

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In 2016 oil extraction in Azerbaijan will total 0.85 million barrels a day, down 10,000 barrels a day against 2015, reads the OPEC report about the oil market.

In its June report OPEC forecast reduction of oil extraction in Azerbaijan in2016 by 20,000 barrels – to 0.84 million barrels a day.

OPEC also expects reduction of oil extraction in Azerbaijan by 40,000 barrels a day (2 million tons a year) in 2017, due to lack of new projects.

According to OPEC, in June 2016 oil production in Azerbaijan dropped by 10,000 barrels a day against May – to 0.78 million barrels a day.


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