Azerbaijan Oil Production Falls Short of OPEC Quota in July

Azerbaijan's oil production decreased in July compared to the previous month, according to the Organization of the Petroleum Exporting Countries (OPEC). The country's average daily crude oil production stood at 453,000 barrels in July, down from 457,000 barrels in June.

This decrease follows a 3,000-barrel increase in the second quarter of this year. Azerbaijan's oil production has been steadily increasing since the start of the year, with an average daily output of 454,000 barrels in the first quarter and 457,000 barrels in the second quarter.

However, Azerbaijan still falls short of its OPEC+ quota, producing only 98,000 barrels less than its allocated 551,000 barrels per day. This discrepancy is likely to have implications for the country's oil production targets moving forward.