Azerbaijan is among countries leading losses in global oil supply: IEA
15 May 2019

Azerbaijan is among countries leading losses in global oil supply: IEA

Baku, Azerbaijan, May 15 By Leman Zeynalova – Trend: Azerbaijan is one of the four countries leading losses in global oil supply in April 2019, Trend reports citing the International Energy Agency (IEA). “In April, global oil supply fell 300,000 barrels per day, with Canada, Kazakhstan, Azerbaijan and Iran leading the losses. At 99.3 million barrels per day, output was up 775,000 barrels per day on a year ago,” reads the Oil Market Report released by the IEA. The IEA expects that in 2019, non-OPEC supply will grow 1.9 million barrels per day versus 2.8 million barrels per day last year. The data of Azerbaijan’s Energy Ministry shows that daily oil production reached 683,000 barrels in Azerbaijan in April, of which 605,000 accounted for oil, 78,000 - for condensate. Thus, 390,000 barrels of oil, 75,000 barrels of condensate and 19,000 barrels of oil products were exported daily. The average daily oil production reached 793,000 barrels in January, 806,000 barrels in February and 798,000 barrels in March, the Ministry of Energy said. The average daily oil production volume in the first quarter of this year reached 799,000 barrels. --- Follow the author on Twitter: @Lyaman_Zeyn