Baku: In July of this year, Azerbaijan's average daily crude oil production stood at 440,000 barrels, APA-Economics reports.

According to Azeri-Press News Agency, Azerbaijan's average daily oil production in July was equal to the June figure.

It should be recalled that Azerbaijan is a participant in the OPEC+ agreement. OPEC+ is an initiative to reduce oil production involving OPEC and non-OPEC countries. According to the agreement reached by the ministers of the OPEC+ countries, Azerbaijan's production quota stands at 551,000 barrels per day until the end of 2026. Thus, in July, Azerbaijan fell short of its quota under OPEC+ by 111,000 barrels.