BAKU, Azerbaijan, July 15. The US Energy Information Administration (EIA) predicts that Europe's oil and liquid fuels production will reach 4.16 mb/d by 2025, Trend reports.
The agency has revised its forecast for the region's output for the coming year upward by 0.03 mb/d compared to the previous assessment.
Additionally, the EIA anticipates a slight increase in production, rising from an estimated 4.01 mb/d in 2024 and 3.94 mb/d in 2023.
Looking ahead to 2025, quarterly projections indicate production levels of 4.26 mb/d in the first quarter, 4.16 mb/d in the second quarter, 4.06 mb/d in the third quarter, and 4.17 mb/d in the fourth quarter.
Norway, the primary producer in the region, is expected to increase its output from an estimated 2.08 mb/d in 2024 to 2.18 mb/d in 2025. Specifically, projections suggest Norway's oil production will be 2.22 mb/d in the first quarter of 2025, 2.15 mb/d in the second quarter, 2.14 mb/d in the third quarter, and 2.23 mb/d in the fourth quarter.
Meanwhile, the forecast for UK oil output indicates a total of 0.8 mb/d for 2024 and 0.85 mb/d for 2025, according to EIA estimates, compared to 0.79 mb/d in 2023. Quarter-wise breakdowns for 2025 include projections of 0.9 mb/d in the first quarter, 0.89 mb/d in the second quarter, 0.79 mb/d in the third quarter, and 0.8 mb/d in the fourth quarter.