BAKU, Azerbaijan, December 14. OPEC predicts that OECD liquids production in 2023 will increase by 1.5 mb/d, reaching an average of 32.4 mb/d, Trend reports.
As per the latest OPEC's forecast, a slight upward adjustment was made, mainly due to revisions in OECD Americas.
The primary contributor to this growth is expected to be OECD Americas, with a forecasted expansion of 1.4 mb/d, averaging 28.3 mb/d. This projection remains largely unchanged from the assessment in the previous month.
At the same time, anticipated annual liquids production in OECD Europe is projected to grow by 0.1 mb/d, averaging 3.6 mb/d showing little change compared to the previous assessment.
Conversely, OECD Asia Pacific is expected to experience a decline of approximately 24,000 b/d year-on-year, reaching an average of 0.5 mb/d.
Looking into 2024, it is anticipated that OECD liquids production will see a growth of 0.9 mb/d, reaching an average of 33.4 mb/d. Once again, the leading force behind this expansion is projected to be OECD Americas, with an expected increase of 0.8 mb/d, averaging 29.1 mb/d.
The yearly liquids production in OECD Europe is forecasted to grow by 0.1 mb/d, averaging 3.8 mb/d, while OECD Asia Pacific is expected to experience a decline of 13,000 b/d year-on-year, reaching an average of 0.4 mb/d.
