OPEC lowers forecast for growth of oil deliveries from non-OPEC states in 2019 by 20,000 bpd
MOSCOW. May 14 (Interfax) - OPEC has lowered its forecast for the growth of deliveries of oil from non-OPEC countries in 2019 by 20,000 bpd, to 64.52 million bpd, the cartel said in its monthly report.
The revision was made "mainly due to lower-than-expected output in Q1 compared with the previous forecast" for the U.S., the UK, Australia, Malaysia, Brazil, Bahrain, and Kazakhstan, "which was partially offset by upward revisions to China by 55 tb/d in the same quarter," the report reads.
"The U.S. (+1.85 mb/d), Brazil, Russia, Australia, the UK, Ghana and the Sudans are forecast to be the main drivers for this year's growth, while Mexico, Kazakhstan, Norway, Indonesia and Vietnam are projected to see the largest declines," it reads.
The estimate for growth in global deliveries of oil from non-OPEC states in 2018 remained unchanged at 62.37 million bpd.