IEA maintains estimate for global oil production in 2022

The International Energy Agency (IEA) has maintained its forecast for the growth rate of oil production in the world in 2022, Report informs with reference to the agency's November update.

Production is expected to increase by 4.6 million barrels per day to 99.9 million barrels.

According to the IEA, in 2023, the production is projected to increase by 0.74 million barrels to 100.7 million barrels per day. At the same time, output in non-OPEC+ countries will increase by 1.8 million barrels per day, primarily thanks to the United States.

In October, the agency also expected the world oil production to increase by 4.6 million barrels per day by the end of the current year, and next year an increase of 0.76 million barrels per day was expected.