BAKU, Azerbaijan, December 16. Non-OPEC liquids supply in 2023 is forecast to grow by 1.5 million barrels per day (mb/d) to average 67.1 mb/d, which is broadly unchanged, compared to the last estimations, Trend reports via monthly oil outlook from OPEC.
"Liquids supply in OECD countries is forecast to increase by 1.6 mb/d, while the non-OECD region is expected to show a decline of 0.2 mb/d," the report said.
Thus, the main growth drivers are expected to be the US, Norway, Brazil, Canada, Kazakhstan and Guyana, whereas oil production is forecast to see declines in Russia and Mexico.
"Nonetheless, large uncertainties remain around EU sanctions on Russian oil imports, other geopolitical developments in Eastern Europe, and US shale output potential in 2023," OPEC noted.
Meanwhile, oil production in the OECD is forecast to average 32.4 mb/d in 2023.
"Growth is led by OECD Americas with 1.3 mb/d to average 27.9 mb/d. Yearly liquids production in OECD Europe is anticipated to grow by 0.3 mb/d to average 3.9 mb/d, while OECD Asia Pacific is expected to remain broadly unchanged to average 0.5 mb/d," the report noted.