Azerbaijan lags OPEC+ quota by 202,000 bpd in December

BAKU. Jan 12 (Interfax) - Azerbaijan produced 482,000 barrels of oil per day in December 2023 compared to 492,000 bpd in November, the country's Energy Ministry told Interfax.

"Azerbaijan's oil production with condensate totaled 604,000 barrels per day in December 2023 versus 609,000 bpd in November, of which oil output accounted for 482,000 bpd and condensate accounted for 122,000 bpd," the ministry said.

Azerbaijan's oil production quota under the OPEC+ deal was 684,000 bpd through the end of 2023. Consequently, Azerbaijan was 141.9% in compliance with the OPEC+ deal in December [lagged the OPEC+ quota by 202,000 bpd].

Azerbaijan has an oil production quota of 551,000 bpd under the OPEC+ deal for 2024.