BAKU, Azerbaijan, November 19. The US Energy Information Administration (EIA) forecasts that Europe’s oil and liquid fuels production will reach 4.01 mb/d by 2025, Trend reports.
As such, the agency revised down its outlook for region's output by 0.08 mb/d, compared to the previous assessment.
However, this also marks a gradual increase from an estimated 3.87 mb/d in 2024 and 3.94 mb/d in 2023.
Quarterly projections for 2025 show production levels of 4.03 mb/d in the first quarter, 4.98 mb/d in the second quarter, 3.92 mb/d in the third quarter, and 4.1 mb/d in the fourth quarter.
Norway, the largest producer in the region, is expected to increase its output from 2.03 mb/d in 2024 to 2.16 mb/d in 2025. Specifically, Norway’s production is forecasted at 2.15 mb/d in the first quarter of 2025, followed by 2.11 mb/d in the second quarter, 2.13 mb/d in the third quarter, and 2.23 mb/d in the fourth quarter.
Meanwhile, the UK’s oil production is expected to rise from 0.74 mb/d in 2024 to 0.75 mb/d in 2025, down from 0.8 mb/d in 2023. For 2025, the UK’s quarterly projections include 0.78 mb/d in the first quarter, 0.77 mb/d in the second quarter, 0.69 mb/d in the third quarter, and 0.77 mb/d in the fourth quarter.