Azerbaijan lags behind March OPEC+ quota by 70,000 bpd

BAKU. April 9 (Interfax) - Oil production in Azerbaijan in March 2024 totaled 481,000 barrels per day (bpd) versus 476,000 bpd in February, the Energy Ministry told Interfax.

"Daily oil with condensate production in Azerbaijan in March 2024 totaled 605,000 bpd (versus 598,000 bpd in February), of which oil accounted for 481,000 barrels, and condensate 124,000 barrels," the ministry said.

Azerbaijan's 2024 oil production quota under the OPEC+ deal is 551,000 bpd. Therefore, in March Azerbaijan fulfilled its OPEC+ deal by 114.6% (but lagged behind the OPEC+ quota by 70,000 bpd).