BAKU, Azerbaijan, February 14. OECD liquids production is projected to see steady growth in 2024, with an estimated increase of 0.9 mb/d, reaching an average of 31.7 mb/d, Trend reports.
This growth is largely driven by the OECD Americas, which is expected to experience a 1.0 mb/d rise, reaching 27.7 mb/d. This marks a slight upward revision of 57,000 b/d compared to last month’s assessment. However, production in OECD Europe is forecast to decline by 57,000 b/d to 3.6 mb/d, while OECD Asia Pacific is expected to see a slight drop of 14,000 b/d, bringing its output to 0.4 mb/d.
Looking ahead to 2025, OECD liquids production is forecast to increase by 0.7 mb/d, averaging 32.4 mb/d. The Americas will continue to be the main contributor to this growth, with an anticipated rise of 0.6 mb/d to reach 28.3 mb/d. Production in OECD Europe is expected to see a modest increase of 0.1 mb/d, averaging 3.7 mb/d, while the Asia Pacific region is set to experience a minor decline of 8,000 b/d.
In 2026, OECD liquids production is forecast to grow further by 0.5 mb/d, reaching 32.9 mb/d. Again, OECD Americas will lead the charge with a projected 0.6 mb/d increase, bringing its production to an average of 28.9 mb/d. Meanwhile, OECD Europe is expected to see a small decline of 45,000 b/d, while production in OECD Asia Pacific will remain largely flat, with a minor decrease of 15,000 b/d.