ECONOMY


OPEC’s crude oil production per day to fall in 2019

Baku, May 8, AZERTAC

The crude oil production in the Organization of the Petroleum Exporting Countries (OPEC) will average 30.3 million barrels per day (b/d) in 2019, down by 1.7 million b/d from 2018, according to the US Energy Information Administration's (EIA) report published in its Short-Term Energy Outlook (STEO).

In 2020, EIA expects OPEC crude oil production to fall by 0.4 million b/d to an average of 29.8 million b/d.

According to its recently published monthly report, OPEC's oil output in March decreased by 534,000 barrels per day to 30.022 million bpd and the organization’s share in total global production declined by 0.5% m-o-m to 30.2%.

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