The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily production of oil and other liquid hydrocarbons in non-OPEC+ countries for 2026–2027, APA-Economics reports, citing the monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
Average daily production of oil and other liquid hydrocarbons in non-OPEC+ countries is expected to amount to 54.83 million barrels this year (forecast unchanged), which is 0.63 million barrels more compared to the 2025 figure (54.2 million barrels).
At the same time, OPEC has announced its forecast for average daily liquid hydrocarbon production in non-OPEC+ countries for next year. According to the forecast, the mentioned indicator is expected to reach 55.45 million barrels in 2027 (forecast unchanged), which is 0.62 million barrels more compared to the forecast figure for 2026.
It should be noted that in 2024, average daily production of oil and other liquid hydrocarbons in non-OPEC+ countries amounted to 53.2 million barrels, which is 1.36 million barrels more compared to the 2023 figure.
Recall that OPEC+ is an initiative covering OPEC and non-OPEC countries aimed at reducing oil production (in order to balance the market - ed.). Azerbaijan is also a participant in the OPEC+ agreement.
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