Azerbaijan fulfills its obligations to cut oil production

Azerbaijan fulfills its obligations to cut oil production

Azerbaijan completely fulfilled its obligations by reducing its oil production by 35,000 barrels per day, the country's Energy Ministry said.

"Azerbaijan has produced 793,900 barrels of oil per day in January, 776,400 barrels in February, 733,300 barrels in March, 781,100 barrels in April, 785,300 barrels in May, 793,700 barrels in June and 796,700 in July of the current year," the Energy Ministry said.

In general, during the first 7 months of 2017, Azerbaijan's oil production declined by 8.9% compared to the same period of the previous year and amounted to 22.5 million tons, while gas production declined by 4.9% to 16,606 billion cubic meters, TASS reported with reference to the State Statistics Committee of the Republic.

In December 2016 in Vienna, 11 non-OPEC countries, including Azerbaijan, agreed to curtail oil output jointly by 558,000 barrels per day.

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