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Total OPEC liquids supply to gradually rise

Oil&Gas Materials 8 November 2016 15:54 (UTC +04:00)
The total OPEC liquids supply will reach 40.7 million barrels per day in 2021.
Total OPEC liquids supply to gradually rise

Baku, Azerbaijan, Nov.8

By Leman Zeynalova – Trend:

The total OPEC liquids supply will reach 40.7 million barrels per day in 2021, according to the cartel’s World Oil Outlook (WOO) 2016 report.

This figure is expected to stand at 38.9 million barrels per day and 39.4 million barrels per day in 2016 and 2017, respectively, said the report.

The total OPEC liquids supply will continue to increase in 2018 reaching 40 million barrels per day in 2018, 40.4 million barrels per day in 2019 and 40.6 million barrels per day in 2020, according to the cartel.

This is while the total OPEC liquids supply is expected to reach 50.7 million barrels per day in 2040.

The report said that this figure stood at 38.2 million barrels per day in 2015.

In general, as compared to WOO 2015, OPEC has increased the forecasts for the cartel’s total liquids supply for all the mentioned periods.

The total OPEC liquids supply was forecasted to reach 37.1 million barrels per day in 2016 in the WOO 2015.

This figure was expected to stand at 37.2 mb/d, 37.3 mb/d, 37.2 mb/d and 37.4 mb/d in 2017, 2018, 2019 and 2020, respectively.

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