BAKU, Azerbaijan, Jan.18
By Leman Zeynalova – Trend:
Non-OPEC crude oil supply will rise from 44.6 million barrels per day (mbd) as of 2021 to 46.4 mbd in 2022, Trend reports with reference to the US JP Morgan Bank.
Crude oil supply by non-OPEC countries will continue upward trend in 2023 standing at 47.5 mbd.
The table below shows crude production by non-OPEC in 2022-2023, as compared to 2021 (in mbd):
|
Non-OPEC |
2021 |
2022 |
2023 |
|
Africa |
1. 0 |
1 |
0.9 |
|
Asia |
6. 0 |
5.7 |
5.6 |
|
China |
4 |
3.8 |
3.6 |
|
FSU |
12.0 |
12.8 |
12.9 |
|
Russia |
9.6 |
10.3 |
10.5 |
|
Latin America |
4.9 |
5.1 |
5.5 |
|
Brazil |
2.9 |
3.1 |
3.3 |
|
Middle East |
1.5 |
1.5 |
1.5 |
|
Europe |
2.9 |
2.9 |
3.1 |
|
Norway |
1.8 |
1.8 |
2 |
|
North America |
16.2 |
17.2 |
17.9 |
|
United States |
10.3 |
11.1 |
11.8 |
|
Canada |
4.3 |
4.4 |
4.5 |
|
OECD Pacific |
0.1 |
0.1 |
0.1 |
The Bank notes that global oil supply is forecast to grow by 5.5 mbd in 2022, an upward revision of 290 kbd, most of it reversing a 1Q22 OPEC+ pause embedded in our previous balance, offset by outages in Ecuador, Libya and Kazakhstan.
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Follow the author on Twitter: @Lyaman_Zeyn
