Oil production in non-OPEC countries to grow by 1.8 mln barrels per day in 2023
Oil production in non-OPEC countries can grow by 1.8 mln barrels per day in 2023, the Organization of Petroleum Exporting Countries (OPEC) said in its report, Azernews reports, citing TASS.
OPEC keeps the forecast of the prior month; in absolute terms, the figure can reach 67.6 mln barrels per day.
According to the Organization’s estimates, the increase in production of liquid hydrocarbons in the US will amount to 1.3 mln barrels per day in 2023. Brazil, Kazakhstan, Norway, Guyana, Mexico, and China will be other growth drivers in 2023.
The uncertainty in the market remains because production failures due to weather conditions and risks of unscheduled maintenance for offshore oil producing facilities are not ruled out this year, OPEC noted.
---
Follow us on Twitter @AzerNewsAz