US EIA forecasts Azerbaijan oil output at 540,000 bpd in 2027

The US Energy Information Administration (EIA) expects Azerbaijan’s average daily crude oil production to stand at 540,000 barrels per day in 2027, according to its latest Short-Term Energy Outlook published in May.

As reported, the forecast for 2027 remains unchanged from the April edition, including both annual and quarterly projections, Caliber.Az reports per local media.

The EIA estimates that output will average 550,000 barrels per day in the first quarter of 2027, before easing to 540,000 barrels per day in the second quarter.

Production is projected to decline further to 530,000 barrels per day in both the third and fourth quarters of the year.

By Aghakazim Guliyev