BAKU, Azerbaijan, November 17. Projected for 2023, OPEC natural gas liquids (NGLs) and non-conventional liquids are expected to increase by approximately 50,000 b/d, reaching an average of 5.4 mb/d, Trend reports.
According to OPEC's estimations, NGL production is anticipated to grow by 50,000 b/d, reaching an average of 5.3 mb/d, while non-conventional liquids are predicted to remain steady at 0.1 mb/d.
Initial figures indicate that NGL output averaged 5.33 mb/d in 3Q2023, with the forecast indicating a stable non-conventional output at 0.1 mb/d, the bloc noted, adding that, when combined, preliminary data suggests a total of 5.42 mb/d for September.
The initial projection for 2024 suggests an increase of 65,000 b/d, resulting in an average of 5.5 mb/d. NGL production is anticipated to grow by 65,000 b/d, reaching an average of 5.4 mb/d, while non-conventional liquids are expected to stay constant at 0.1 mb/d.
Meanwhile, as per OPEC's forecast, anticipated growth in non-OPEC liquids production for 2023 is projected at 1.8 mb/d year-on-year, reaching 67.6 mb/d.
