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Crude oil supply by non-OPEC countries will grow by 3 mln barrels daily in 2022, the Organization of Petroleum Exporting Countries (OPEC) says in its February report.
OPEC at the same time lowered the estimate in increase of supplies from 0.7 mln barrels a day to 0.6 mln barrels daily to about 63.6 mln barrels per day. In 2021, Canada, Russia, China, the US, Argentina and Guyana accounted for the bulk of production growth. At the same time, production declined in the United Kingdom, Colombia, Indonesia and Brazil.
Oil supply from non-OPEC countries is expected to grow by 3 mln barrels daily to 66.7 mln barrels per day. The US and Russia will be key growth drivers, along with Brazil, Canada, Kazakhstan, Norway and Guyana.
