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IEA: global oil production reaches 101.3 mln bpd in Aug, but growth slowing
KYIV. Sept 14 (Interfax) – World oil production in August reached 101.3 million bpd, the International Energy Agency (IEA) said in its monthly report.
"A strong recovery in Libya and smaller gains from Saudi Arabia and the UAE offset losses in Nigeria, Kazakhstan and Russia. From August through December, production growth is forecast to slow markedly, edging up by just 280,000 bpd to 101.6 million bpd," the report reads.
The IEA expects global oil supplies to average 100.1 million bpd in 2022, up 4.8 million bpd from a year earlier. In 2023, production is expected to increase by another 1.7 million bpd, to 101.8 million bpd.
