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 OPEC’s monthly report.
Average daily production of oil and other liquid hydrocarbons in countries not participating in the OPEC+ agreement is expected to amount to 54.78 million barrels this year (the forecast remains unchanged), which is 0.63 million barrels more than the 2025 figure (54.15 million barrels).
At the same time, OPEC has announced its forecast for average daily production of liquid hydrocarbons in countries not included in the OPEC+ agreement for next year. According to the forecast, this indicator is expected to reach 55.39 million barrels in 2027 (the forecast remains unchanged), which is 0.61 million barrels more compared to the 2026 forecast figure.
It should be noted that in 2014, 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, average daily production of liquid hydrocarbons in countries not included in the OPEC+ agreement stood at 51.84 million barrels.
For information, OPEC+ is an initiative involving OPEC and non-OPEC countries aimed at reducing oil production (to balance the market – ed.). Azerbaijan is also a participant in the OPEC+ agreement.
