OPEC raised its estimate of growth in oil production outside the organization in 2023 by 100,000 barrels per day, and now expects an increase in production by 1.7 million barrels per day compared to 2022 - to an average of 67.5 million barrels per day, citing the organization.
A month earlier, OPEC predicted an increase in oil production outside the organization in 2023 by 1.6 million barrels, to 67.4 million barrels per day.
The organization attributes the forecast revision to an increase in production in Russia, the United States and Latin America, which is offset by a decrease in Europe, OECD countries and other Eurasian countries.
“Non-OPEC liquid hydrocarbon production is expected to increase by 1.4 million barrels per day in 2024 compared to the previous year, to an average of 68.9 million barrels per day,” the organization says.
https://report.az/en/energy/estimate-for-2023-non-opec-oil-production-growth-raised/