BAKU, Azerbaijan, April 12. In 2024, the production of liquids in OECD countries is likely to increase by 0.7 mb/d, reaching an average of 33.5 mb/d, Trend reports.
According to OPEC's forecast, the growth will mainly come from OECD Americas, with an expected rise of 0.6 mb/d to an average of 29.3 mb/d. However, this is slightly lower than what was predicted last month by 0.1 mb/d.
Liquid production in OECD Europe is expected to go up by 0.1 mb/d, reaching an average of 3.8 mb/d - lower than previously expected by about 20,000 b/d. In contrast, OECD Asia Pacific is anticipated to decrease by 13,000 b/d year-on-year, averaging 0.4 mb/d.
Looking ahead to 2025, OECD liquids production is forecasted to grow by 0.7 mb/d to reach an average of 34.2 mb/d.
Again, OECD Americas is predicted to drive most of this growth, increasing by 0.6 mb/d to an average of 29.9 mb/d. OECD Europe's yearly liquids production is expected to grow by 0.1 mb/d to average 3.9 mb/d, while OECD Asia Pacific is anticipated to decline slightly by 8,000 b/d year-on-year to average 0.4 mb/d.