BAKU, Azerbaijan, March 17. The US Energy Information Administration (EIA) foresees Europe's oil and liquid fuels production hitting 4.08 mb/d in 2025, Trend reports.
Thus, the forecast has been revised down by 0.03 mb/d, compared to the previous month's projection of 4.11 mb/d.
As per the forecast, the region's production is expected to see a slight increase compared to the estimated 4.02 mb/d in 2024 and 3.94 mb/d in 2023.
Looking ahead to 2025, projections indicate 4.17 mb/d in the first quarter, 4.08 mb/d in the second quarter, 3.98 mb/d in the third quarter, and 4.09 mb/d in the fourth quarter.
Norway, as the primary producer in the region, is anticipated to raise its output from an estimated 2.06 mb/d in 2024 to 2.14 mb/d in 2025. Specifically, Norway's oil production is expected to be 2.18 mb/d in the first quarter of 2025, 2.11 mb/d in the second quarter, 2.1 mb/d in the third quarter, and 2.19 mb/d in the fourth quarter.
Meanwhile, the forecast for UK oil output indicates a total of 0.81 mb/d for 2025, according to EIA estimations, compared to 0.83 mb/d in 2024. Breakdowns for 2025 include projections of 0.86 mb/d in the first quarter, 0.85 mb/d in the second quarter, 0.75 mb/d in the third quarter, and 0.77 mb/d in the fourth quarter.