The International Energy Agency (IEA) slightly upgraded its forecast for oil production outside the OPEC+ in 2021 and now expects it to increase by 0.62 million barrels per day
MOSCOW (Pakistan Point News / Sputnik - 12th May, 2021) The International Energy Agency (IEA) slightly upgraded its forecast for oil production outside the OPEC+ in 2021 and now expects it to increase by 0.62 million barrels per day.
"Overall, non-OPEC+ supply will gain 620 kb/d y-o-y in 2021, only partially recovering from the 2020 losses of 1.3 mb/d," IEA said in its fresh oil market report.
In its previous report, IEA said it expected non-OPEC+ oil production to increase by 0.61 million barrels per day this year.
