OPEC: Azerbaijan's oil production decliningJune 14, 2016 - 10:11 AMT PanARMENIAN.Net - Azerbaijan's oil production will average 0.85 million barrels per day (bpd) in the second quarter of 2016, which is 20,000 bpd less than in Q1 2016, according to the OPEC's forecasts, published in its June Oil Marker Report, Azerbaijani media report. The OPEC kept forecasts for global oil supply and demand unchanged Monday, June 13 after its members broke off a meeting earlier this month without reaching an agreement on oil output, The Wall Street Journal said. Global oil demand will increase by 1.2 million barrels a day this year to 94.18 million, led by India, the group’s Vienna-based research department said in the monthly report. Non-OPEC production will fall by 740,000 barrels a day from 2015 to 56.4 million barrels a day this year. The downward revisions in Canada, Brazil and Colombia broadly offset upward revisions in the U.S., U.K., Russia and Azerbaijan. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |