BAKU, Azerbaijan, May 15. The non-DoC liquids supply, which refers to liquids supply from countries not participating in the Declaration of Cooperation, is projected to increase by 1.2 mb/d in 2024, reaching an average of 53 mb/d, Trend reports.
According to OPEC, key contributors to this growth in 2024 are anticipated to be the US, Canada, Brazil, and Norway.
This year, OECD liquids production (excluding Mexico) is expected to see a rise of 0.8 mb/d, reaching an average of 31.5 mb/d. The growth is primarily attributed to OECD Americas, which is forecasted to increase by 0.7 mb/d to an average of 27.3 mb/d.
Meanwhile, yearly liquids production in OECD Europe is expected to climb by 0.1 mb/d to reach an average of 3.8 mb/d.
Conversely, OECD Asia Pacific is anticipated to experience a slight decline of 13,000 b/d year-on-year, averaging 0.4 mb/d.
Looking ahead to 2025, non-DoC liquids supply growth is forecasted at 1.1 mb/d, remaining largely unchanged from the previous month’s assessment, averaging 54.1 mb/d. The growth is primarily propelled by the US, Brazil, Canada, and Norway, while Angola is expected to witness the main decline.
