Azerbaijan’s daily oil production for September is set at 718 000 barrels, as the 31st OPEC and non-OPEC Ministerial Meeting decided to adjust upward the production level for OPEC+ by 0.1 mb/d for the month of September 2022, Trend reports via OPEC’s website.
This adjustment does not affect the baselines decided on the Meeting on 18 July 2021.
The meeting participants reaffirmed the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12 April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on the 18 July 2021.
They reiterated the critical importance of adhering to full conformity and to the compensation mechanism. Compensation plans should be submitted in accordance with the statement of the 15th OPEC and non-OPEC Ministerial Meeting.