BAKU, Azerbaijan, October 17. The US, Norway, Brazil, Canada, Kazakhstan and Guyana are expected to be the main contributors to non-OPEC oil supply growth in 2023, Trend reports, citing the latest oil market review from OPEC.
According to the report, oil production is forecast to decline, mainly in Russia and Mexico.
Non-OPEC liquids production in 2023 is expected to increase by 1.5 million barrels per day (200,000 barrels per day down, compared to the previous forecast), and to reach an average of 67.1 million barrels per day (including 70,000 barrels per day in processing gains).
"For 2023, oil production in the OECD is forecast to grow by 1.6 million barrels per day to average 32.4 million barrels per day, with the growth of 1.3 million barrels per day from OECD Americas to average 27.9 million barrels per day, while the non-OECD region is forecast to decline by 100,000 barrels per day to 32.3 million barrels per day," the report said.
“Nevertheless, uncertainty about the geopolitical situation in Eastern Europe and US shale production potential remains high,” OPEC noted.
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