According to government forecasts, for the consecutive two years Azerbaijan is expected to decline oil production at the level of about 950 thousand tons.
Turan IA reports, citing the official data of the Azerbaijani government, the adjusted volume of oil production in 2016 is projected at 40,744,900 tons. Note that the previous forecasts made in late summer were at the level of 41,306,400 tons.
At the end of 2015, according to the State Statistics Committee, 41 million 689 thousand tons of oil and condensate were produced in the country. Based on these data, in the current year decline in oil production by 944,100 tons, or 2.26% is expected.
The government forecasts that in 2017 the country will produce 39 million 796.9 thousand tons of oil. Then, as compared with forecast data of the current year crude production decline will be 948 thousand tons, or 2.32%.
Note that in the first 11 months of 2016, according to the State Statistics Committee, Azerbaijan produced 37 million 717.2 thousand tons (decline of 598 thousand tons), including 2 million 998.1 thousand tons in November. -12B--
Economics
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