Baku, Azerbaijan, May 10
By Leman Zeynalova – Trend:
Total non-OPEC petroleum and other liquids supply is expected to stand at 61.23 million barrels per day in 2018, according to May Short Term Energy Outlook (STEO) of the US Energy Information Administration (EIA).
This figure is forecast to reach 63.13 million barrels per day in 2019, according to EIA.
This is while it its previous STEO, EIA expected non-OPEC petroleum and other liquids supply at 61.23 million barrels per day and 62.70 million barrels per day in 2018 and 2019, respectively.
The quarterly forecasts for non-OPEC supply in 2018 are as follows: 61.17 million barrels per day in Q2, 61.82 million barrels per day in Q3 and 62.39 million barrels per day in Q4.
EIA expects non-OPEC petroleum and other liquids supply to stand at 62.11 million barrels per day in Q1 2019, 62.76 million barrels per day in Q2, 62.92 million barrels per day and 63.00 million barrels per day in Q3 and Q4 of 2019, respectively.
OPEC and several other non-OPEC producers have reached an agreement to extend the production deal for a further nine months. This would shift the expiration date of the agreement from March to the end of 2018. The agreement is on the same terms as those agreed in November 2016.
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