BAKU: The production of sweet crude oil in Azerbaijan has decreased by 6.05% in the first nine months of 2024, totaling 17,718.33 thousand tons, according to data from the State Statistics Committee reported by APA-Economics. This decline reflects a continuing trend in the country’s oil output, with the figures for 2023 showing a reduction as well.

According to Azeri-Press News Agency, of the total crude oil produced during this period, 17,678.32 thousand tons were classified as commodity products, marking a 5.94% decrease compared to the previous year. The production figures for 2023 indicated a total output of 24,973.75 thousand tons of sweet crude oil, which was already a 9.7% decline from the preceding year. Additionally, the share of commodity products in 2023 stood at 24,892.89 thousand tons, representing a 9.8% decrease.

These statistics highlight a significant downward trend in Azerbaijan’s sweet crude oil production, which continues to impact the country’s output figures and commodity product share
s year over year.