OPEC revises up forecasts on Azeri oil output

OPEC revises up forecasts on Azeri oil output Azerbaijan`s average oil production will increase by 20,000 barrels per day to 0.97 million bpd in 2012, OPEC said in its June oil market report, an upward revision of 10,000 bpd from the previous month`s forecasts. The revision is the result of updated production data in the first quarter, as well as adjustments to the rest of the year, OPEC said. The oil cartel forecasts that Azerbaijan`s oil production... Read More