Non-OPEC petroleum output to rise by 2 million b/d in 2018
Baku, Azerbaijan, Jan.10
By Leman Zeynalova - Trend:
Non-OPEC petroleum and other liquid fuels production is expected to rise by 2.0 million barrels per day (b/d) in 2018 and by 1.3 million b/d in 2019, the US Energy Information Administration (EIA) said in its January Short-term Energy Outlook (STEO).
The forecast production growth is centered in the Americas, as US production growth is forecast to average 1.5 million b/d in in 2018 and 1.0 million b/d in 2019, according to the report.
Canada and Brazil are expected to contribute combined growth of 0.4 million b/d in both 2018 and 2019, EIA analysts believe.
“In Canada, oil sands projects continue to drive production growth during the forecast period, with the new phases of the Horizon oil sands project adding production starting in November 2017,” said the report.
Brazil’s petroleum and other liquid fuels production is expected to grow by 0.1 million b/d in 2018 and by 0.2 million b/d in 2019, accounting for the third-highest source of non-OPEC production growth after the United States and Canada, according to EIA estimates.
Other sources of growth for non-OPEC petroleum and other liquid fuels production in 2018 and 2019 include Kazakhstan, where EIA forecasts production to continue to increase at the Kashagan field.
Russia’s petroleum and other liquid fuels production is expected to fall by about 0.1 million b/d in 2018 and remain at that level in 2019, said the report.
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