Azerbaijan Fulfills Vienna Agreement

Baku / 04.10.17 / Turan: In September, Azerbaijan fulfilled its obligations under the agreement of the oil extracting states on reducing daily oil production, the Energy Ministry said.

According to the report, in September 2017, the daily oil production in Azerbaijan amounted to 785,700 barrels. This included 733,000 barrels of crude oil, 52,700 barrels of condensate, and 19,300 barrels of oil products.

The Ministry notes that Azerbaijan has thus fulfilled the agreement on reducing oil production of OPEC and non-OPEC countries. That is, Azerbaijan reduced daily oil production by 35,000 barrels, thus fulfilling its obligations.

Oil production in January this year amounted to 793,900 barrels, in February - 776,400 barrels, in March - 733,300 barrels, in April - 781,100 barrels, in May - 785,300 barrels, in June - 793,700 barrels, in July - 796,700 barrels, and in August - 734,800 barrels.

As you know, on December 10 last year, 11 OPEC and non-OPEC countries reached an agreement in Vienna to reduce oil production. The agreement was concluded for six months. Azerbaijan also joined this agreement. On May 25, the OPEC Council of Ministers at a meeting in Vienna extended the agreement for another 9 months. -0-