Azernews.Az

By Mirsaid Ibrahimzade

Azerbaijan has submitted the data on the daily oil production in the country for April 2019 to the joint technical commission of the OPEC monitoring committee, the Energy Ministry said in a message.

The ministry stated that the daily oil production reached 683,000 barrels in April, of which 605,000 accounted for oil and 78,000 for condensate.

As much as 390,000 barrels of oil, 75,000 barrels of condensate and 19,000 barrels of oil products were exported daily.

The Energy Ministry also noted that the average daily oil production was 793,000 barrels in January, 806,000 barrels in February and 798,000 barrels in March. The average daily oil production volume in the first quarter of this year reached 799,000 barrels.

The joint technical commission was established on January 22, 2017 under the monitoring committee created to monitor the fulfillment of the countries' commitments to reduce oil production. At the 5th OPEC and non-OPEC Ministerial Meeting in Vienna on December 7, 2018, an agreement was reached to reduce daily oil production by 1.2 million barrels.

OPEC is a permanent intergovernmental organization created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. It was created by oil-producing states to control production quotas.

OPEC+ is 14 countries that are OPEC members plus another 10 oil producing states, including Azerbaijan. The total number is 24 participants, which account for the bulk of global oil production.

Saudi Arabia is currently the world's largest oil exporter. Russia is the second largest crude oil producer in the world after the U.S.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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