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US forecasts decline in non-OPEC oil supplies

Posted on 09 June 2016

The US Energy Information Administration (EIA) forecasts non-OPEC countries oil supplies to decline to 57.04 million barrels per day in 2016 and to 56.8 million barrels per day in 2017. Non-OPEC supply of oil and other liquid hydrocarbons was 57.64 million barrels per day in 2015, according to the EIA’s June Short-Term Energy Outlook (STEO).
In its May STEO the EIA forecasted non-OPEC liquid supplies at the level of 56.9 million barrels per day in 2016 and 56.69 million barrels per day - in 2017. The US and Russia are the largest non-OPEC oil producing countries. The US and Russia supplied 15.04 million and 11.03 million barrels of oil and other liquid hydrocarbons per day respectively in 2015, according to EIA………………………………………..Full Article: Source


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