BAKU, Azerbaijan, June 14. The US Energy Information Administration (EIA) predicts that Europe's oil and liquid fuels production will reach 4.13 mb/d by 2025, Trend reports.
The agency has revised its forecast for the region's output for the upcoming year upward by 0.02 mb/d compared to the previous assessment.
Additionally, the EIA anticipates a slight increase in production compared to the estimated 4.02 mb/d in 2024 and 3.94 mb/d in 2023.
Looking ahead to 2025, quarterly projections indicate production levels of 4.23 mb/d in the first quarter, 4.14 mb/d in the second quarter, 4.03 mb/d in the third quarter, and 4.14 mb/d in the fourth quarter.
Norway, the primary producer in the region, is expected to elevate its output from an estimated 2.08 mb/d in 2024 to 2.17 mb/d in 2025. Specifically, projections suggest Norway's oil production will be 2.21 mb/d in the first quarter of 2025, 2.14 mb/d in the second quarter, 2.13 mb/d in the third quarter, and 2.22 mb/d in the fourth quarter.
Meanwhile, the forecast for UK oil output indicates a total of 0.81 mb/d for 2024 and 0.83 mb/d for 2025, according to EIA estimations, compared to 0.79 mb/d in 2023. Quarter-wise breakdowns for 2025 include projections of 0.88 mb/d in the first quarter, 0.87 mb/d in the second quarter, 0.77 mb/d in the third quarter, and 0.78 mb/d in the fourth quarter.