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US raises forecast of world oil supply growth

US raises forecast of world oil supply growth

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Date: 13 January 2016 20:52

Baku, Azerbaijan, Jan. 13

By Elena Kosolapova – Trend:

The US Energy Information Administration (EIA) forecasts the growth of the world supply of oil and other liquid hydrocarbons up to 95.93 million barrels per day in 2016, the EIA January short-term forecast said.

EIA predicted the world oil supply at 95.79 million bpd in 2016 in the December short-term forecast.

The world supply of oil and other liquid hydrocarbons will amount to 95.07 million bpd in the first quarter of 2016, 95.78 million bpd in the second quarter, 96.53 million bpd in the third quarter, 96.33 million bpd in the fourth quarter, the new forecast said.

EIA expects growth in the world oil supply at 96.69 million bpd in 2017. The world oil supply is projected at $ 95.52 million bpd in the first quarter of 2017, 96.54 million bpd in the second quarter, 97.36 million bpd in the third quarter, 97.3 million bpd in the fourth quarter.

The world oil supply amounted to 95.71 million bpd in 2015, EIA said.

The supplies from OPEC countries will increase up to 39.16 million bpd in 2016 and up to 40.01 million bpd in 2017 (38.3 million bpd in 2015), EIA said.

The supplies from the countries-non-OPEC members will reduce up to 56.77 million bpd in 2016 and up to 56.68 million bpd in 2017 (57.41 million bpd in 2015), the forecast said.

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