U.S. Energy Department leaves 2025 liquid hydrocarbons production forecast for Azerbaijan unchanged, predicts decrease in 2026

BAKU. May 7 (Interfax) - The U.S. Energy Department's Energy Information Administration (EIA) has kept its forecast for liquid hydrocarbon production in Azerbaijan in 2025 at 0.62 million barrels per day (bpd) and lowered its forecast for 2026 to 0.60 million bpd.

The EIA said in its latest monthly outlook that liquid hydrocarbon production in the country would be 0.62 million barrels per day this year, as it forecast in April. Production totaled 0.57 million bpd in Q1 and is expected to be 0.62 million bpd in Q2, down from the April forecast of 0.63 million bpd, 0.64 million bpd in Q3, unchanged, and 0.63 million bpd in Q4, down from 0.64 million bpd.

As such, the EIA expects oil production to decrease 10,000 bpd in the second and fourth quarters of this year.

The EIA forecasts liquids production in Azerbaijan at 0.60 million bpd in 2026, down from the April forecast of 0.61 million bpd, including 0.62 million bpd in Q1, down from the April forecast of 0.63 million bpd, 0.61 million bpd in Q2, unchanged, 0.60 million bpd in Q3, unchanged, and 0.59 million bpd in Q4, down from 0.60 million bpd.

It said liquids production in Azerbaijan averaged at 0.60 million bpd in 2024, including 0.60 million bpd in Q1, 0.59 million bpd in each of Q2 and Q3 and 0.60 million bpd in Q4.