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EIA revises down European petroleum production forecasts

Processing Analytics 8 September 2022 11:18
Baku, Azerbaijan Trend News Agency Leman Zeynalova
EIA revises down European petroleum production forecasts

European petroleum and other liquids production will stand at 3.99 million barrels per day in 2022, as compared to 4.03 mbd in the previous forecast, Trend reports with reference to the US Energy Information Administration (EIA).

Europe is said to produce 4.01 mbd in the first quarter of 2022 and 3.74 mbd in the second quarter, while for the rest of the quarters the expected figures are 4.03 mbd and 4.17 mbd, respectively.

Europe’s petroleum production in 2023 is expected at 4.30 mbd, as compared to 4.33 mbd in the previous forecast, with quarterly production of 4.27 mbd, 4.30 mbd, 4.23 mbd and 4.42 mbd, respectively.

In particular, EIA expects Norway to produce 1.96 mbd and 2.29 mbd in 2022 and 2023 respectively, as compared to 2.03 mbd in 2021. UK’s output is expected to stand at 0.92 mbd in 2022, before dropping to 0.88 mbd in 2023.

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