Production of liquid hydrocarbons in non-OPEC countries in 2023 will grow by 1.5 million b/d compared to last year and will average 67.27 million b/d, while the previous report predicted an increase of 1.4 million b/d to 67.14 million b/d, the monthly OPEC report. "Downward revisions of data for Canada, Azerbaijan and European OECD countries were more than offset by upward revisions of liquid hydrocarbon production in Russia and the United States," the organization notes. It is expected that the main drivers of growth in the supply of liquid hydrocarbons in 2024 will be the USA, Canada, Guyana, Brazil, Norway and Kazakhstan, while most of the increase is expected due to the expansion of existing projects. At the same time, according to forecasts, the largest decline in production will occur in Mexico and Azerbaijan.

Source: Turan News Agency