EIA upgrades Azerbaijan's 2027 oil production forecast by 10,000 bpd

The US Energy Information Administration (EIA) has increased its forecast for Azerbaijan's average daily oil production in 2027 by 10,000 barrels, bringing it to 530,000 barrels per day. This revision was included in the agency's October Short-Term Energy Outlook.

In September, the EIA had projected Azerbaijan's oil production for 2027 at 520,000 barrels per day. The latest update reflects a positive adjustment in expectations for the country's oil output.

Looking ahead, the EIA expects Azerbaijan's daily oil production to reach 540,000 barrels in the first quarter of 2027, up by 10,000 barrels from its previous forecast. For the second quarter of 2027, the projection is now 530,000 barrels per day, also an increase of 10,000 barrels from September's estimate.

In both the third and fourth quarters of 2027, Azerbaijan's average daily oil production is forecasted at 520,000 barrels, which is 10,000 barrels higher than the earlier projections.