OPEC predicts a reduction in oil production in Russia, growth in the US and other countries
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According to the OPEC forecast, in 2023 oil production in Russia will decrease by 0.75 million barrels per day (b/d) and will average 10.28 million b/d. At the same time, the fall in Russia is offset by growth in other states that are not members of the cartel, primarily in the United States. Thus, the supply of liquid hydrocarbons by non-OPEC countries in 2023 will increase by 1.43 million bpd.
In the organization’s monthly report celebratedthat the expected fall in Russia takes into account the recently announced additional voluntary production adjustments until the end of 2023.
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