Azerbaijan produced 592,100 barrels per day (bpd) of oil in March, slightly down from 593,000 bpd in February 2021, and in line with the country’s obligations under the OPEC+ deal, the energy ministry said.

Production of oil and condensate reached 734,800 barrels.

“Azerbaijan reduced oil production in March this year by 125,900 bpd from the March 2018 level *when OPEC+ participants started to reduce output),” the ministry said in a statement.

Azerbaijan is set to increase oil output gradually from May under a fresh deal, that was agreed last month at a ministerial meeting of the OPEC+, a group of the Organisation of the Petroleum Exporting Countries (OPEC) and allied producers, including Kazakhstan.

OPEC+ had been cutting output by a little more than 7 million bpd to support prices and reduce oversupply, but members of the group agreed to ease cuts gradually by 350,000 bpd in May, another 350,000 bpd in June and around 450,000 bpd in July.

Azerbaijan is expected to produce 603,000 bpd in May, 610,000 bpd in June and 620,000 bpd in July. The country’s output is seen at 595,000 bpd in April, the same as in March.

The country’s quota under OPEC+ obligations in March was 595,000 bpd.