BAKU, Azerbaijan, April 13. The US Energy Information Administration (EIA) forecasts Eurasia's oil production in 2023 at 13.58 mb/d, Trend reports via EIA.
In particular, the region's output is expected at 14.05 mb/d in the 1Q2023, with a slight decline to 13.44 mb/d in 2Q2023, 13.39 mb/d in 3Q2023, and 13.45 mb/d in the 4Q2023.
Overall, Eurasia's liquids production for the whole year is forecast to decline from 13.81 mb/d estimated in 2022.
Moreover, the region's output in 2024 is subjected for further decrease to 13.51 mb/d for the whole year. Namely, Eurasia's oil production is projected to stand at 13.51 mb/d in 1Q2024, 13.5 mb/d in 2Q2024, 13.48 mb/d in 3Q2024, and 13.56 mb/d in the 4Q2024.
Meanwhile, world oil and liquid fuels production, according to EIA outlook, is forecast to average 101.3 mb/d in 2023, which is an increase of 1.5 mb/d year-on-year.