Azerbaijan Boasts Overcompliance With Oil Output Cuts

By Tsvetana Paraskova While most analysts are wondering when Russia will reach its gradual 300,000-bpd production cut as part of the deal with OPEC to reduce global supply, another non-OPEC producer, Azerbaijan, is boasting not only full compliance, but a strong overcompliance with the cuts. Under the deal between OPEC and 11 non-OPEC nations to cut crude oil supply by almost 1.8 million bpd between January and June, Azerbaijan has pledged to cut 35,000 bpd out of non-OPEC’s 558,000 bpd share. Whereas the total non-OPEC compliance has been estimated at somewhere…

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