EIA sees further rise in OPEC production
Baku, Azerbaijan, March 9
By Aygun Badalova - Trend:
OPEC oil production will further rise reaching 32.35 million barrels per day in 2016 and 32.8 million barrels per day in 2017, according to the US Energy Information Administration's (EIA) forecasts published in its Short-Term Energy Outlook (STEO).
OPEC oil production amounted to 31.6 million barrels per day in 2015, according to the EIA estimates.
EIA expects the highest OPEC oil production in the third and fourth quarters of 2017 - at 32.9 million barrels per day.
Cartel's 13 members produced 32.335 million barrels per in January, about 130,700 barrels per day more than December 2015, according to OPEC's latest report. The official quota for OPEC oil production stands at 30 million barrels per day.
Reportedly, a meeting between OPEC and other leading oil producers about freezing oil output could take place between March 20 and April 1. The meeting could take place either in Russia, or Vienna or Doha.