US expects further rise in OPEC oil production
Baku, Azerbaijan, Aug. 10
By Elena Kosolapova – Trend:
Oil and other liquids supply will further rise in OPEC countries and reach 39.29 million barrels per day in 2016 and 40.18 million barrels per day in 2017, the US Energy Information Administration (EIA) said in its August short-term energy outlook.
The forecast for 2016 was decreased compared to July short-term energy outlook, when OPEC oil and other liquids supply was forecast at 39.38 million barrels per day in 2016 and 40.22 million barrels per day in 2017.
Production of oil and other liquids in OPEC countries totaled 38.33 million barrels per day in 2015, according to the EIA.
OPEC has 14 members – Algeria, Angola, Ecuador, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the UAE, Venezuela and Gabon.
Edited by EA
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