Vienna: The Organization of the Petroleum Exporting Countries (OPEC) has released an updated forecast concerning the average daily production of oil and other liquid hydrocarbons in non-OPEC+ countries for the years 2025-2026.

According to Azeri-Press News Agency, OPEC’s monthly report indicates that the average daily production in non-OPEC+ countries is projected to reach 54.01 million barrels this year. This figure remains unchanged from the previous forecast and shows an increase of 0.81 million barrels compared to 2024.

The report further outlines the forecast for the next year, predicting that the average daily production in non-OPEC+ countries will reach 54.74 million barrels per day in 2026, maintaining the previous estimate. This projection is 0.73 million barrels higher than the forecast for 2025.

The report also highlights that last year, the average daily production in non-OPEC+ countries was 53.2 million barrels, which was 1.36 million barrels more than in 2023. In 2023, the average daily production in these countries was recorded at 51.84 million barrels.

OPEC+ is a collaborative initiative that includes both OPEC and non-OPEC countries with the aim of reducing oil production. Azerbaijan is one of the participants in the OPEC+ agreement.