Azerbaijan falls short of OPEC+ quota by 185,000 bpd in July

BAKU. Aug 16 (Interfax) - Oil production in Azerbaijan in July 2023 totaled 499,000 bpd compared with June figures of 500,000 bpd, the nation's Energy Ministry told Interfax-Azerbaijan.

"In July 2023, Azerbaijan's daily production of oil with condensate amounted to 621,000 barrels (610,000 barrels in June), of which oil production accounted for 499,000 barrels and condensate - 122,000 barrels," the ministry said.

Azerbaijan's oil production quota within the OPEC+ deal through the end of 2023 is 684,000 bpd monthly. Thus, Azerbaijan compliance with the OPEC+ deal in July was 137.1% [lagging behind the OPEC+ quota by 185,000 bpd].