Europe to see increase in petroleum, other liquids output

Oil&Gas Materials 8 December 2021 13:51 (UTC +04:00)
Europe to see increase in petroleum, other liquids output

BAKU, Azerbaijan, Dec.8

By Leman Zeynalova - Trend:

European petroleum and other liquids production will stand at 4.25 million barrels per day in 2022, as compared to 4.14 mbd in 2021, Trend reports with reference to the US Energy Information Administration (EIA).

EIA estimates Europe’s quarterly production at 4.32 mbd, 3.84 mbd and 4.13 mbd in the first three quarters of 2021 each, and forecasts this figure at 4.28 mbd in Q4 2021.

The quarterly forecasts for 2022 are as follows: 4.30 mbd, 4.22 mbd, 4.11 mbd and 4.39 mbd in Q1, Q2, Q3 and Q4 2022, respectively.

The volume of production in Europe was 4.22 mbd as of 2020, according to EIA.

In particular, EIA expects Norway to produce 2.05 mbd and 2.16 mbd in 2021 and 2022 respectively, as compared to 2.01 mbd in 2020. UK’s output is set to drop from 1.08 mbd in 2020 to 0.95 mbd in 2021, before recovering to 0.97 mbd in 2022.


Follow the author on Twitter: @Lyaman_Zeyn