EIA raises Azerbaijan's 2027 oil production forecast to 530,000 bpd

The US Energy Information Administration (EIA) has raised its forecast for Azerbaijan's average daily oil production in 2027 by 10,000 barrels to 530,000 barrels per day.

According to Report, the revised estimate was included in the EIA's October Short-Term Energy Outlook.

In September, the agency had forecast Azerbaijan"s average daily oil production in 2027 at 520,000 barrels per day.

In the first quarter of next year, average daily oil production in the country is expected to reach 540,000 barrels, 10,000 barrels higher than the forecast issued in September.

In the second quarter of 2027, Azerbaijan's daily oil production is projected at 530,000 barrels, also 10,000 barrels above last month's forecast.

The EIA also expects Azerbaijan's average daily oil production to stand at 520,000 barrels in both the third and fourth quarters of 2027, 10,000 barrels higher than its previous forecasts.