OPEC Lowers Forecast For 2022 Oil Output Outside Organization By 24,000 Bpd To 65.6Mln Bpd

Muhammad Irfan Published November 14, 2022 | 05:20 PM

OPEC Lowers Forecast for 2022 Oil Output Outside Organization by 24,000 Bpd to 65.6Mln Bpd

MOSCOW (UrduPoint News / Sputnik - 14th November, 2022) OPEC has slightly downgraded its forecast for oil production for 2022 outside the organization by 24,000 barrels per day to 65.6 million barrels per day, according to its report published on Monday.

"The non-OPEC liquids supply forecast for 2022 was revised down slightly by 24 tb/d to average 65.6 mb/d. Y-o-y growth averaged 1.9 mb/d, which is lower by 30 tb/d compared to the previous month," the report read.

As for the 2023 forecast, non-OPEC liquids production is expected to grow by 1.5 million barrels per day to 67.1 million barrels per day, the report added.

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