Baku: The Energy Information Administration (EIA) under the US Department of Energy has updated its forecast for daily global production of liquid hydrocarbons for 2025-2026, APA-Economics reports citing the monthly report of the EIA. According to the information, this year the global daily production of liquid hydrocarbons is expected to average 105.36 million barrels, which is 0.75 million barrels more than the previous forecast.

According to Azeri-Press News Agency, the EIA projects that the global daily production of liquid hydrocarbons will reach 106.35 million barrels next year, up from the previous forecast of 105.72 million barrels. This upward revision reflects a significant increase in production capabilities and outputs worldwide.

The report also highlights that in 2024, the daily production of liquid hydrocarbons was 102.8 million barrels, marking an increase of 0.78 million barrels from 2023, which recorded 102.02 million barrels. This trend indicates a steady growth in global oil production, driven by advancements in extraction technologies and increased capacity.

In historical context, the data reveals that in 2022, the average daily global production of liquid hydrocarbons was 99.99 million barrels. This figure was preceded by 95.7 million barrels in 2021 and 93.84 million barrels in 2020. The global production in 2019 stood at 100.61 million barrels, illustrating a fluctuating but generally upward trajectory in the production of liquid hydrocarbons over recent years.