Azerbaijan lags OPEC+ quota by 195,000 bpd in October

BAKU. Nov 16 (Interfax) - Azerbaijan produced 489,000 barrels of oil per day in October 2023 versus 491,000 bpd in September 2023, the country's Energy Ministry told Interfax.

"Oil production with condensate averaged 603,000 bpd in Azerbaijan in October 2023 versus 607,000 bpd in September, with oil output accounting for 489,000 bpd and condensate accounting for 114,000 bpd," the ministry said.

Azerbaijan's quota for oil production is 684,000 bpd under the OPEC+ deal until the end of 2023, implying that the country was 139.9% in compliance with the deal in October [with a lag 195,000 bpd under the deal].