Exports from Azerbaijan: is Europe being too optimistic?

摘要

With oil production in decline in most countries outside OPEC, Azerbaijan is seen as one of the few non-OPEC countries capable of increasing its output over the next few years. The EU and the US are anxious to see its output rise as a means of offsetting some of their growing reliance on OPEC in general-and the Middle East in particular-for oil. The EU also sees Azerbaijan as a source of natural gas that might be used to reduce its reliance on Russia.