OPEC Slightly Lowers Forecast For US Oil Output In 2023 To 12.6Mln Bpd - Report

Mohammad Ali (@ChaudhryMAli88) Published March 14, 2023 | 05:21 PM

OPEC Slightly Lowers Forecast for US Oil Output in 2023 to 12.6Mln Bpd - Report

MOSCOW (UrduPoint News / Sputnik - 14th March, 2023) OPEC has slightly downgraded its forecast for oil production in the United States in 2023 and expects it to reach 12.6 million barrels per day, according to its fresh report released on Tuesday.

In its previous report, OPEC expected an output growth in 2023 by 0.

75 million barrels per day compared to 2022 to 12.62 million barrels per day.

"Given a sound level of oil field drilling and well completions, crude oil output is anticipated to increase by 0.7 mb/d y-o-y to average 12.6 mb/d. Average tight crude output in 2023 is forecast at 8.5 mb/d, up by 0.7 mb/d y-o-y," the report read.

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