The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for average daily production of oil and other liquid hydrocarbons in countries not included in the OPEC+ agreement for 2026–2027, APA-Economics reports, citing the monthly report of the Organization of the Petroleum Exporting Countries (OPEC).
It is expected that in the current year, average daily production of oil and other liquid hydrocarbons in non-OPEC+ countries will amount to 54.83 million barrels (the forecast remains unchanged), which is 0.63 million barrels more compared to the 2025 figure (54.2 million barrels).
At the same time, OPEC has announced its forecast for average daily production of liquid hydrocarbons in non-OPEC+ countries for next year. According to the forecast, this indicator is expected to reach 55.45 million barrels in 2027 (previous forecast – 55.44 million barrels), which is 0.62 million barrels more compared to the projected figure for 2026.
Note that in 2024, the average daily production of oil and other liquid hydrocarbons in countries not included in the OPEC+ agreement amounted to 53.2 million barrels, which is 1.36 million barrels more compared to the 2023 figure.
Recall that in 2023, the average daily production of liquid hydrocarbons in non-OPEC+ countries stood at 51.84 million barrels.
For information, OPEC+ is an initiative covering OPEC and non-OPEC countries to reduce oil production (in order to balance the market – ed.). Azerbaijan is also a participant in the OPEC+ agreement.
