BAKU, Azerbaijan, October 16. In 2023, the US and Brazil are expected to contribute nearly 80 percent of the total non-OPEC supply growth, with an average of 2 mb/d, bringing the total to 49.8 mb/d.
According to the data provided to Trend by the International Energy Agency (IEA), in September, non-OPEC+ supply decreased by 210,000 b/d compared to the previous month, reaching 50.2 mb/d.
The IEA explains that this drop resulted from several countries experiencing minor production declines, alongside the seasonal decrease in biofuels output. Over the last three months, non-OPEC+ production averaged 50.4 mb/d, with both the US and Brazil achieving record-high production levels, as indicated by official government data.
In 2023, Guyana and Norway will each account for approximately 5 percent of this increase, the agency noted.
Looking ahead to 2024, non-OPEC+ supply is projected to grow by a more modest 1.3 mb/d, the IEA expects. This growth will be driven by Brazil, Guyana, and Canada, while the expansion of shale production is expected to slow down.
