Azernews portal reports, with reference to the national Energy Ministry, that in February daily oil production in Azerbaijan amounted to 806K barrels, including 722K barrels of petroleum, and 84K barrels of condensate.
Some 573K barrels of petroleum, 84K barrels of condensate and 18K barrels of oil products were exported daily. Average daily oil production made up 793K barrels in January, and averaged 792K barrels over the last year.
The Joint Technical Commission (JTC) of the OPEC monitoring committee was established on January 22, 2017 under the monitoring committee, created to monitor the countries’ fulfillment of their commitments to cut oil production. On December 7, 2018, an agreement was reached at the fifth ministerial meeting of the non-OPEC countries in Vienna to cut daily oil production by 1.2 mio barrels. As part of the agreement, Azerbaijan has reduced its daily production by 20K barrels since January 1, 2019.