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EIA ups forecasts for Azerbaijan’s petroleum output

Azerbaijan is expected to produce 0.79 million barrels of petroleum and other liquids per day in 2018, the US Energy Information Administration (EIA) said in its February Short-term Energy Outlook (STEO).

This forecast remains unchanged from EIA’s previous report. However, it has revised up the forecasts for petroleum output in the country for 2019.

EIA estimates that petroleum and other liquids production in Azerbaijan will stand at 0.78 million barrels per day in 2019, as compared to 0.77 million barrels per day forecasted in the previous STEO.

Related news: EIA reveals forecasts for Azerbaijan’s 2018-2019 petroleum output

The quarterly production in Azerbaijan for 2018 is forecasted as follows: 0.81 million barrels per day in Q1, 0.80 million barrels per day in Q2, 0.78 million barrels per day in Q3 and 0.77 million barrels per day in Q4.

This is while the country is expected to produce 0.79 million barrels of petroleum and other liquids per day in Q1 and Q2 of 2019 each, 0.77 million barrels per day in Q3 and 0.76 million barrels per day in Q4.    Read more