IEA Forecasts Oil Production Growth in Azerbaijan in 2024-25
The International Energy Agency (IEA) predicts an increase in oil production in Azerbaijan in 2024-2025 to 570,000 barrels per day (bpd).
The IEA told Interfax-Azerbaijan that according to the agency’s estimates, in 2023 oil production in the country will amount to 520,000 barrels per day. In 2024, production will increase to 560,000 bpd, and in 2025, to 570,000 bpd.
According to the IEA, from 2026, oil production in Azerbaijan will again begin to decline and in 2028 it will fall to the level of 2023: in 2026 – 550 thousand b/d, in 2027 – 530 thousand b/d, in 2028 – 520 thousand b/s.
