BAKU, Azerbaijan, Aug.18
By Leman Zeynalova – Trend:
Non-OPEC crude oil production is expected to stand at 16.023 million barrels per day in 2022, as compared to the forecasted 14.994 million barrels per day as of 2021, Trend reports with reference to the US JP Morgan Bank.
Non-OPEC quarterly crude production in 2021 is estimated as follows: 15.741 million bpd in Q1, 15.754 million bpd in Q2, 16.176 million bpd in Q3 and 16.413 million bpd in Q4.
JP Morgan’s report says that non-OPEC will produce 15.681 million bpd in January 2021, 15.752 million bpd in February, 15.792 million bpd in March, 15.777 million bpd in April, 15.748 million bpd in May, 15.736 million bpd in June, 16.056 million bpd in July, 16.176 million bpd in August, 16.299 million bpd in September, 16.282 million bpd in October, 16.449 million bpd in November and 16.508 million bpd in December.
At the 19th meeting of the ministers of the member countries of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, the participants supported the decision to extend the "Declaration of Cooperation" until the end of 2022.
The new agreement calls for a reduction from 5.8 million barrels in OPEC + countries to 2 million barrels by the end of 2021.
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