Azerbaijan Falls Short of OPEC+ Oil Production Quota in July

Azerbaijan's average daily crude oil production in July was 440,000 barrels, according to the International Energy Agency (IEA). This figure is identical to June's output. Azerbaijan participates in the OPEC+ agreement to balance the market by reducing oil production.

The IEA reports that Azerbaijan fell short of its quota under OPEC+ by 111,000 barrels in July. Its quota stands at 551,000 barrels per day until the end of 2026.