BAKU, Azerbaijan, May 12. The share of OPEC in total world crude oil production is expected to stand at 28.2 percent in April, Trend reports via monthly oil outlook from OPEC.
The forecast has been left unchanged from the outlook of the previous month.
"According to secondary sources, total OPEC-13 crude oil production averaged 28.60 mb/d in April 2023, lower by 191,000 b/d month-on-month. Crude oil output increased mainly in Saudi Arabia, Angola and IR Iran, while production in Iraq and Nigeria declined," the report noted.
At the same time, OPEC's preliminary data indicates that global oil output in April decreased by 0.5 mb/d to average 101.3 mb/d compared with the previous month.
"Estimates are based on preliminary data for non-OPEC supply, OPEC NGLs and non-conventional oil, while assessments for OPEC crude production are based on secondary sources," the report said.
Meanwhile, non-OPEC liquids production (including OPEC NGLs) is estimated to have decreased by 0.3 mb/d to average 72.7 mb/d in month-on-month in April 2023.
"This was higher by 2.5 mb/d year-on-year. Preliminary estimated production rises in April were mainly driven by Other Asia and Latin America and were more than offset by decreases in Russia and Canada," OPEC added.