Azerbaijan's Oil Production Falls Short of OPEC+ Quota

Azerbaijan's crude oil production averaged 453,000 barrels per day in July, down from 457,000 barrels in June, according to a report from the Organization of the Petroleum Exporting Countries (OPEC).

This marks a decrease of 4,000 barrels compared to the previous month.

The figure stood at 454,000 barrels in the first quarter and increased by 3,000 barrels in the second quarter, reaching 457,000 barrels.

Azerbaijan's oil production quota under OPEC+ is set at 551,000 barrels per day until the end of 2026, but it fell short of this target by 98,000 barrels in July.