OPEC Says Upgrades 2026 US Oil, Condensate Output Forecast, Expects Growth of 90,000 Bpd
The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of their headquarters in Vienna, Austria, March 3, 2022.
MOSCOW (Sputnik) — OPEC has upgraded its forecast for the growth of oil and condensate production in the United States in 2026 to 90,000 barrels per day, expecting an average production of 13.5 million barrels per day, according to the organization’s fresh report on Thursday. «In 2026, US liquids production, excluding processing gains, is expected to increase by around 450 tb/d, y-o-y, to average 22.7 mb/d. Crude oil and condensate production is set to rise by about 0.1 mb/d, y-o-y, to average 13.5 mb/d,» the report read. According to the table, the figure in 2026 will increase by 90,000 barrels. Last month, the organization predicted an increase of 20,000 barrels per day to 13.44 million barrels per day.Russia’s oil production in August decreased by 160,000 barrels per day compared to July to 8.718 million barrels per day, according to OPEC’s fresh report.In July, Russia produced an average of 8.877 million barrels of oil per day. According to the table in the report, the decrease in production in August amounted to 160,000 barrels per day.
WorldOPEC Expresses Gratitude to Russia for Commitment to Balancing Oil Market4 May, 16:08 GMT
