EIA Holds Steady on Azerbaijan's 2026 Oil Production Forecast

The US Energy Information Administration (EIA) has maintained its forecast for Azerbaijan's oil production in 2026 without any changes. The latest projection is part of the EIA's October Short-Term Energy Outlook. According to the report, Azerbaijan's oil output is expected to average 550,000 barrels per day this year, matching the estimate from the previous month.

The forecast also indicates that oil production will remain steady at 550,000 barrels per day for both the third and fourth quarters of 2023. This is an increase from the EIA's September forecast, which had projected 540,000 barrels per day for each of those quarters.

Looking ahead to 2025, the EIA anticipates Azerbaijan's oil production to average 570,000 barrels per day in the first and second quarters, rising to 580,000 barrels per day in the third quarter and 590,000 barrels per day in the fourth quarter. Overall, the EIA estimates that Azerbaijan's liquid hydrocarbon production will average 570,000 barrels per day in 2025.