Oil Production in Azerbaijan to Decline

Oil production in Azerbaijan is set to decline. The international rating agency S&P Global Ratings has forecast a slight decrease in oil production in Azerbaijan by 2026.

“In the first 10 months of 2025, oil production decreased by 4.6%, averaging approximately 556,000 barrels per day. This represents a decrease of 27,000 barrels per day compared to the same period last year. This trend is expected to continue in the coming years,” the agency's forecast indicates.

S&P evaluates that gas production will remain at overall current levels in 2026.