Global Oil Production Plummetes


(MENAFN- AzerNews) By Alimat Aliyeva

According to the May report of the International Energy Agency(IEA), the volume of oil production in the world in April decreasedby 200 thousand barrels per day (b/d), reaching the level of 102million b/d, Azernews reports.

At the same time, IEA analysts still forecast an increase inglobal oil supplies this year by 580 thousand b/d, to a record102.7 million b/d. This growth will be achieved through the effortsof non-OPEC+ countries such as the United States, Guyana, Canadaand Brazil.

At the same time, the IEA revised its forecast for global oildemand growth in 2024, lowering it by 140 thousand b/d to 1.1million b/d. This revision is related to weak indicators in thefirst quarter of this year.

MENAFN16052024000195011045ID1108224225


AzerNews

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.