OPEC forecasts oil output growth in Azerbaijan 2011
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Oil exporters' organization OPEC is forecasting a 40,000 barrel-per-day increase in production in Azerbaijan in 2011.
This would mean average daily production of 1.11m barrels of oil, OPEC says in its Monthly Oil Market Report for May 2011.
The forecast is 25,000 barrels higher than it was in April and refers to the second, third and fourth quarters of the year.
"Azeri oil production is forecast to average 1.11 mb/d in 2011, an increase of 40,000 b/d over 2010 and an upward revision of 25,000 b/d from the previous month. The revision applied to the second, third, and fourth quarters and was due to a reassessment of the volume additions at the Azeri-Chirag-Guneshli (ACG) field," the OPEC report says..... MORE
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