OPEC Upgrades 2021 US Oil Production Forecast To 11.2Mln Barrels Per Day

Muhammad Irfan Published June 10, 2021 | 05:20 PM

OPEC Upgrades 2021 US Oil Production Forecast to 11.2Mln Barrels Per Day

MOSCOW (UrduPoint News / Sputnik - 10th June, 2021) The Organization of the Petroleum Exporting Countries (OPEC) improved its forecast for the United States' oil production in 2021 and now expects it to decrease by 0.12 million barrels per day to an average of 11.2 million barrels per day.

In its May report, OPEC said the US oil production would drop by 0.28 million barrels per day to 11.04 million barrels per day.

"US crude oil production in 2021 is forecast to decline by 0.12 mb/d y-o-y to average 11.2 mb/d," OPEC said in its monthly oil market report.

According to OPEC, US oil production decreased by 0.94 million barrels per day to an average of 11.31 million barrels per day in 2020.

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