Azernews.Az

By Akbar Mammadov

Azerbaijan’s daily oil production amounted to 750,6 thousand barrels, including 667,000 barrels crude oil and 83,2 thousand barrels condensate in February 2020, the Ministry of Energy reported on March 10.

Daily export of crude oil constituted 530,3 thousand barrels, while export of condensate and oil products accounted for 79,6 thousand and 12,4 thousand barrels respectively.

Azerbaijan has completely fulfilled its commitment to maintaining the daily production at 769,000 barrels.

It should be mentioned that according to the agreement reached at the 7th OPEC and non-OPEC ministerial meeting held on December 6, the commitment for Azerbaijan was set as 27,000 barrel.

Implementation of the “Declaration of Cooperation” will be completed by the end of March 2020.

The Ministry of Energy presented data on daily oil production in February to the Joint Technical Commission of the Joint Monitoring Committee of OPEC.

To remind, Azerbaijani Energy Minister Parviz Shahbazov attend the 8th of OPEC and non-OPEC Ministerial Meeting to be held on March 6.

The situation on the global oil market will be discussed at the meeting, and the issue of decision-making on the level of production for the period after March were considered.

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Akbar Mammadov is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97

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