OPEC retains forecast for oil production outside organization for 2022

OPEC has maintained its forecast for oil production outside the organization in 2022 at 66.7 million barrels per day, Report informs referring to the organization’s monthly report.

The forecast for non-OPEC liquids production growth in 2022 also remains unchanged at 3 million barrels per day year-on-year, up to 66.7 million barrels per day on average, the report says.

The estimate for oil and condensate production outside the organization in 2021 remained virtually unchanged - 63.6 million barrels against 63.7 million in the December report.

The largest increase in oil production among non-OPEC countries this year is expected in the US, Russia, Brazil, Canada, Kazakhstan, Norway and Guyana.