The International Energy Agency (IEA) has kept its forecast for global oil production growth in 2022 unchanged and expects it to rise by 4.6 million barrels per day to 99.9 million barrels per day, according to its fresh report released on Tuesday, APA-Economics reports citing Sputnik.

“For 2022 as a whole, global oil supply is forecast to rise by 4.6 mb/d year-on-year (y-o-y) to 99.9 mb/d,” the report read.

The agency also slightly lowered its forecast for the oil output in 2023 and expects it to rise by 740,000 barrels per day to 100.7 million barrels per day.

Source: Azeri-Press News Agency