EIA Reaffirms Steady Oil Production Forecast for Azerbaijan in 2027
The US Energy Information Administration (EIA) has reaffirmed its forecast for Azerbaijan's oil production in 2027, leaving it unchanged from its previous estimate. According to the EIA's September Short-Term Energy Outlook, Azerbaijan is expected to produce an average of 520,000 barrels per day (bpd) next year.
The agency predicts that Azerbaijan's oil output will remain steady throughout 2027, with no significant changes in production levels from one quarter to another. The forecast shows that the country's average daily oil production is expected to stand at 530,000 bpd in the first quarter of 2027, and then level off to an average of 520,000 bpd for both the second and third quarters.
The EIA expects Azerbaijan's oil output to decline slightly in the fourth quarter of 2027, with an estimated average daily production of 510,000 bpd. However, this forecast is also unchanged from the agency's previous estimate.