Accra:The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for the average daily production of oil and other liquid hydrocarbons in countries outside the OPEC+ agreement for the years 2026-2027.
According to Azeri-Press news agency, OPEC’s monthly report indicates that the production is expected to reach 54.84 million barrels per day this year, which remains unchanged from previous forecasts. This figure represents an increase of 0.64 million barrels compared to the 2025 forecast of 54.2 million barrels per day.
Additionally, OPEC forecasts that in 2027, average daily production of liquid hydrocarbons in non-OPEC+ countries will be 55.45 million barrels, also unchanged from earlier predictions. This projection is 0.62 million barrels higher than the expected production for 2026.
In 2024, the average daily production in these countries was recorded at 53.2 million barrels, marking an increase of 1.36 million barrels from the 2023 figures.
OPEC+ is an initiative that includes OPEC member states and non-OPEC countries, aimed at reducing oil production to balance the market. Azerbaijan is among the participants in the OPEC+ agreement.