Azerbaijan failed to meet OPEC+ quota in January – energy ministry

Azerbaijan produced 474,000 b/d of crude oil in January, which was less than expected and has put upward pressure on Brent crude futures.

PHOTO: Flag of Azerbaijan. Getty Images

Azerbaijan has been allocated a crude oil production quota of 551,000 b/d for this year by OPEC+, which it is a member of.

But Azerbaijan’s total output for January was 77,000 b/d lower than this quota.

According to the country's energy ministry, its total crude and condensate production in Azerbaijan amounted to 598,000 b/d in January. This included 474,000 b/d of crude oil and 124,000 b/d of condensate production.

By Aparupa Mazumder 

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