The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily oil and other liquid hydrocarbon production in countries not included in the OPEC+ agreement (an initiative to reduce oil production involving OPEC and non-OPEC countries) for 2025-2026, APA-Economics reports citing OPEC's monthly report.
According to the information, the average daily oil and other liquid hydrocarbon production in countries not included in the OPEC+ agreement this year is expected to be 54.01 million barrels (the forecast has not changed), which is 0.81 million barrels more than the figure for 2024.
In addition, OPEC has announced its forecast for the average daily production of liquid hydrocarbons in countries not included in the OPEC+ agreement for next year. According to the forecast, the figure in 2026 is expected to be 54.64 million barrels (previous forecast figure - 54.74), which is 0.63 million barrels more than the forecast figure for 2025.
The report notes that last year, the average daily production of oil and other liquid hydrocarbons in countries not included in the OPEC+ agreement was 53.2 million barrels, which is 1.36 million barrels more than the figure for 2023.
It should be noted that in 2023, the average daily production of liquid hydrocarbons in countries not included in the OPEC+ agreement was 51.84 million barrels.
It should be noted that OPEC+ is an initiative to reduce oil production that includes OPEC and non-OPEC countries. Azerbaijan is also a participant in the OPEC+ agreement.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
