The International Energy Agency (IEA) has raised its forecast for world oil production in 2023: IEA now expects it to grow by 1.6 million barrels per day (b / d), to 101.5 million barrels per day, Report informs, citing the agency.
"In 2023, global production is projected to grow by 1.6 million barrels per day, to 101.5 million b/d, as the supply of oil in non-OPEC+ countries will increase by 1.9 million b/d,” the IEA report says.
A month earlier, the IEA predicted that global oil production in 2023 would grow by 1.4 million b/d, to 101.3 million b/d. The report also notes that the IEA expects non-OPEC+ oil production to increase by 1.9 million b/d in 2023, and by 1.2 million b/d in 2024.
In June, world oil production increased by 480,000 b/d, up to 101.8 million barrels.