IEA expects growth in global oil production

MOSCOW, 14 Sep — PRIME. The International Energy Agency (IEA) has maintained its forecast for the growth rate of oil production in the world in 2022 by 4.8 million barrels per day, to 100.1 million barrels, in 2023 – by 1.7 million barrels, to a record 101.8 million barrels per day, follows from the September report of the IEA.

The IEA reported a decrease in world oil reserves

In August, the agency expected that by the end of the current year, world oil supply would increase by 4.8 million barrels per day, to 100 million barrels per day, and next year by 1.7 million barrels, to 101.7 million barrels per day. .

“In 2022, global production is projected to increase by 4.8 million bpd to 100.1 million bpd. OPEC+ is on track to increase production by 3.2 million bpd, with Saudi Arabia ready to provide biggest year-on-year growth and hit a year-on-year record Non-OPEC+ deliveries to rise by 1.6 million bpd in 2022, with the US accounting for 70% of the increase at 1.1 million bpd “, — stated in the materials of the IEA.

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“In 2023, global oil production is projected to rise by 1.7 million bpd to reach an annual record of 101.8 million bpd, led by supplies from non-OPEC+ countries (+1.8 million bpd). U.S. shipments are projected to reach record levels and again provide the largest share of growth at 60%. Conversely, production in OPEC+ countries may decline due to a decrease in annual production in Russia,” the report adds.