Azerbaijan to Increase Oil Production in May

Azerbaijan will increase its oil production by 8,000 barrels per day in May. This was reported by the TASS news agency.

According to a new cooperation agreement, Azerbaijan is set to boost its daily oil production by 8,000 barrels in May, 7,000 barrels in June, and 10,000 barrels in July. Thus, Azerbaijan's new obligations in May will amount to 115,000 barrels, 108,000 barrels in June, and 98,000 barrels in July, as stated in the report from the Ministry of Energy.

According to the Ministry of Energy, the country’s daily oil production will remain at 603,000 barrels in May, 610,000 barrels in June, and 620,000 barrels in July.

As per the OPEC+ agreement, Azerbaijan is required to maintain its daily oil production at 595,000 barrels from January to April.