IEA lowers forecast for global oil production in 2022

MOSCOW, 13 Oct – PRIME. The International Energy Agency (IEA) has lowered its forecasts for the growth rate of oil production in the world: in 2022 it expects an increase by 4.6 million barrels per day, to 99.9 million barrels, in 2023 – by 0.8 million barrels, to all another record 100.6 million barrels per day, follows from the October report of the IEA.

In September, 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. .

“Global production is now projected to rise by 4.6 million bpd, to 99.9 million bpd in 2022. OPEC+ is projected to contribute 3 million bpd to production growth, with the largest increase in In 2022, non-OPEC+ supplies are expected to grow by 1.5 million barrels per day, with 70% of the increase – 1.1 million barrels per day – coming from the U.S. Canada, China and Guyana will also provide significant growth, although its volumes will be much more modest.

“In 2023, growth will noticeably slow down, to only 760,000 bpd, but production will still reach a record 100.6 million bpd, mainly due to non-OPEC+ countries,” the report adds.