EIA Forecasts Azerbaijan Oil Production Decline Through 2027

The Energy Information Administration forecasts that Azerbaijan's oil and liquid hydrocarbon production will average 550,000 barrels per day in 2026. This figure maintains the agency's previous assessment, following an average of 570,000 barrels per day in 2025. The agency projects a further decline to 520,000 barrels per day in 2027, attributing the downward trend to the natural decline of mature oil fields.

Recent data from OPEC shows that Azerbaijan's actual average daily crude oil production was 456,000 barrels in June 2026. This reflects a slight increase in the second quarter, which averaged 457,000 barrels per day, compared to 454,000 barrels per day in the first quarter.

As a participant in the OPEC+ agreement, Azerbaijan is subject to a production quota set at 551,000 barrels per day through the end of 2026. This quota is designed to help balance the global energy market.