OPEC keeps forecast for US oil production in 2023

OPEC has kept its forecast for US oil production in 2023 at the level of the previous estimate, expecting an increase in the indicator by 0.69 million barrels per day, to 12.57 million barrels per day, Report informs referring to the May report of the organization.

In the previous April report, OPEC predicted an increase in 2023 by the same 0.69 million barrels per day compared to 2022, to 12.57 million barrels per day. Thus, expectations are kept at the same level.

The production forecast in the report is explained by the organization by high level of drilling and well completions.

According to OPEC, oil production in the country amounted to 11.25 million barrels in 2021 and 11.89 million barrels per day in 2022.