Baku: In November of this year, Azerbaijan’s average daily crude oil production was recorded at 456 thousand barrels, as reported by APA-Economics, citing the monthly report from the Organization of the Petroleum Exporting Countries (OPEC). This figure represents a decrease of 2 thousand barrels compared to the October production level of 458 thousand barrels.

According to Azeri-Press News Agency, the data highlights fluctuations in Azerbaijan’s oil production throughout the year, with the first, second, and third quarters recording average daily outputs of 466 thousand barrels, 461 thousand barrels, and 458 thousand barrels, respectively.

The report also notes that Azerbaijan’s production quota, as agreed upon by the ministers of the ‘OPEC+’ initiative-comprising both OPEC and non-member countries-stands at 551 thousand barrels per day until the end of 2026. In November, Azerbaijan’s production was 95 thousand barrels short of this quota.