Non-Gulf oil production increases but falls short of losses from Mideast Gulf

Summary

Non-Mideast Gulf countries produced 70.4 million b/d of liquids in January-April, a 2.1 million b/d increase year on year. However, this growth is insufficient to offset the nearly 5 million b/d decline in Mideast Gulf output due to recent conflicts. Total liquids production is expected to average 71 million b/d for the year, while Mideast Gulf production losses are projected at 1.82 billion barrels since late February.

Recent Coverage

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