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OPEC ups forecast for Azerbaijani oil supply

Oil&Gas Materials 3 December 2009 15:00 (UTC +04:00)

Azerbaijan, Baku, Dec. 3 / Trend A.Badalova /

According to the OPEC forecasts, in 2009 Azerbaijani will up oil supplies by 140,000 barrels per day to 1.04 million, which is higher by 28,000 barrels per day than the volumes predicted month earlier.

The OPEC Bulletin published on the official site of the cartel says, oil supplies by the former Soviet countries will hit 12.9 million bpd in 2009 and 13.1 million bpd in 2010.

The OPEC forecasts an increase in oil supply of by countries outside the cartel by 410,000 barrels per day to 50.86 million bpd, which is more by 50,000 barrels per day compared to the volume predicted last month.

In 2010, the OPEC expects oil supplies by the non-OPEC countries to increase by 350,000 barrels per day to 51.21 million or 13,000 barrels per day less compared to the volume predicted last month.

Oil supply by the Organization for Economic Cooperation and Development (OECD) counties will be reduced by 120,000 barrels per day to 19.49 million in 2009.

The world oil demand will amount to 84.2 million barrels per day in 2009 and 84.9 million barrels per day in 2010, the OPEC forecasted.  Of the total volume 45.9 million barrels per day in 2009 and 45.7 million barrels per day in 2010 will fell to the OECD.

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