BAKU, Azerbaijan, March 13. OECD liquids production is set to increase by 0.9 mb/d in 2024, hitting an average of 33.7 mb/d, Trend reports.
As OPEC noted, this slight downward adjustment primarily stems from production revisions in Mexico.
Once again, growth will be spearheaded by OECD Americas, expecting a 0.7 mb/d increase to reach an average of 29.4 mb/d. This is a modest decrease of 6,000 b/d compared to last month's assessment.
Furthermore, anticipated yearly liquids production in OECD Europe is on track to grow by around 0.1 mb/d, averaging 3.8 mb/d, which remains unchanged from the previous assessment. Meanwhile, OECD Asia Pacific is expected to experience a year-over-year decline of 14,000 b/d, averaging 0.4 mb/d.
Looking forward to 2025, the forecast suggests a growth of 0.8 mb/d in OECD liquids production, reaching an average of 34.5 mb/d.
OECD Americas is expected to be the primary driver of this growth, with an anticipated increase of 0.7 mb/d, averaging 30.1 mb/d.
Yearly liquids production in OECD Europe is expected to grow by 0.1 mb/d, reaching an average of 3.9 mb/d, while OECD Asia Pacific is projected to see a minor year-over-year decline of 8,000 b/d, averaging 0.4 mb/d.
