World oil supply growth to exceed 103.4 mb/d next year -FORECAST

World oil supply growth to exceed 103.4 mb/d next year -FORECAST
# 14 November 2023 14:42 (UTC +04:00)

The International Energy Agency (IEA) has raised its forecasts for daily global oil production for 2023, APA-Economics reports citing the monthly report of the Agency.

According to the report, world oil supply growth exceeded expectations. Record output from the United States, Brazil and Guyana underpin this year’s 1.7 mb/d increase in global oil supplies, to a record 101.8 mb/d.

The Agency predicts that in 2024, non-OPEC+ producers will continue to lead global growth, projected at 1.6 mb/d, to an unprecedented 103.4 mb/d.

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THE OPERATION IS BEING PERFORMED