Non-OPEC countries to increase oil supply by 0.7 million barrels in 2021

Oil supply from non-OPEC countries in 2022 will grow by 3 million barrels per day. The previous assessment by the OPEC remained unchanged, Report informs citing TASS.

Russia and the US will make the main contribution to this growth, according to the report.

It is expected that the main drivers of growth next year will be Russia and the US, whose growth rates will be 1 million and 0.9 million barrels per day, respectively. They will be followed by Brazil, Canada, Kazakhstan, Norway, Guyana and other countries, the report says.

At the same time, in 2021, the supply from non-OPEC countries will increase by only 0.7 million barrels, this estimate also remained unchanged. The volume of non-OPEC oil supply in 2021 is expected to reach 63.6 million barrels per day.