Azerbaijan, Baku, March 15 / Trend A.Badalova /
Oil supplied by countries-non-OPEC members will increase by 0.52 million barrels per day - up to 52.79 million barrels per day this year. These forecasts are contained in the OPEC's March report on oil market. The current forecast on oil supply by these countries is 0.1 million barrels per day more than the level of growth forecasted by them last month.
According to OPEC, oil supplied by the countries of the Organization for Economic Cooperation and Development (OECD) will be reduced by 40,000 barrels per day - up to 19.86 million barrels per day this year.
Oil production in the U.S. is projected at 15.11 million barrels per day in 2011 or 0.18 million barrels per day more than the production levels in 2010. Oil production in developing countries will increase by 0.37 million barrels per day - up to 13.15 million barrels per day in 2011.
OPEC increased forecasts for oil production in the counties of the Middle East in 2011 by 20,000 barrels per day - up to 1.82 million barrels per day.
According to the OPEC forecasts, the countries of the former Soviet Union will supply 13.35 million barrels per day in 2011 or 0.13 million barrels per day more than in 2010. According to the OPEC report, the growth of supply is supported by the increase in oil production in Russia, Azerbaijan and Kazakhstan.
According to OPEC, oil supplies by countries-non-OPEC members, was 52.26 million barrels per day in 2010.
World oil supply
According to OPEC estimates, in February the volume of world oil supplies increased by 0,55 million barrels per day - up to 88,08 million barrels per day.
OPEC oil production increased by 110,000 barrels per day - up to 30.02 million barrels per day last month.
OPEC's share in total world oil supply remained unchanged last month - at 34 percent.
World oil demand
OPEC forecasts an increase global oil demand by 1.4 million barrels a day - up to 87.8 million barrels per day in 2011.
Roughly 46.34 million barrels a day of the total oil demand will fall to the OECD countries this year. In the U.S., oil demand will amount to 24.15 million barrels per day in 2011, or 0.3 million barrels per day more than in 2010.
According to OPEC forecasts, oil demand in the countries of the former Soviet Union, will increase by 0.08 million - up to 4.14 million barrels per day in 2011.
Demand for oil in China will increase by 0.51 million barrels per day - up to 9.46 million barrels per day in 2011.
According to the OPEC estimates, world oil demand in 2010 amounted to 86.39 million barrels per day, of which 46.07 million barrels per day fell to OECD countries.
Global economy
OPEC forecasts world economic growth at 4 percent in 2011 compared to 4.6 percent in 2010. The U.S. economy will grow this year by 2.9 percent compared to 2.8 percent in 2010. The economic growth will hit 2.3 percent in OECD countries, in the euro area -1.5 percent compared to 2.8 and 1.7 percent in 2010.