MOSCOW (Pakistan Point News / Sputnik - 12th July, 2022) OPEC has maintained its forecast on oil production in the United States in 2022 unchanged and expects it to increase by 850,000 barrels per day to 12.04 million barrels per day, OPEC's fresh report said on Tuesday.
According to OPEC, the US oil production in 2021 was 11.19 million barrels per day. At the same time, OPEC said that the production in 2023 will reach 12.74 million barrels per day.
"Given the current pace of drilling and well completions in oil fields, production of crude oil and condensate is forecast to grow by 0.8 mb/d y-o-y to average 12.0 mb/d in 2022 ... Crude oil output is anticipated to jump by 0.7 mb/d y-o-y to average 12.7 mb/d (in 2023)," the report read.
