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Forecast on production of hydrocarbons in non-OPEC countries decreased

12 February 2021 10:50 (UTC +04:00)

Organization of Petroleum Exporting Countries (OPEC) decreased its forecast on average daily production of oil and other hydrocarbons in non-OPEC countries for 2021 last year, APA-Economics reports citing the monthly report of the OPEC.

According to the report, daily production of oil and condensate on non-OPEC has been forecasted to be 63,33 mln. barrels in 2021, which is 0.2 mln. barrels less in comparison with the previous forecast.

OPEC forecasts that the most significant increase in oil production will be in Canada, Brazil, the US, Norway, and Ecuador.

According to OPEC calculations, average daily production of oil and other hydrocarbons was 62,66 mln. barrels in non-OPEC countries last year, which is 2,55 mln. barrels less in comparison with the 2019 indicator.