EIA Raises Azerbaijan’s 2027 Oil Output Forecast by 10,000 Barrels

The US Energy Information Administration (EIA) has adjusted its forecast for Azerbaijan's oil production, raising its 2027 estimate by 10,000 barrels per day. The revised projection, detailed in the October Short-Term Energy Outlook, now stands at 530,000 barrels per day. This marks an upward revision from the 520,000 barrels per day forecast issued in September.

For early 2027, the EIA expects average daily production to hit 540,000 barrels in the first quarter, up 10,000 barrels from the previous forecast. The second quarter is also projected at 530,000 barrels per day, again a 10,000-barrel increase from the September outlook. However, the latter half of 2027 is expected to see production stabilize at 520,000 barrels per day for both the third and fourth quarters, still 10,000 barrels higher than earlier estimates.