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Oil production to increase

Oil production to increase
According to the OPEC forecasts, oil production by the former Soviet Union countries will increase by 0.23 million bpd to 12.79 million bpd in 2009.

According to the OPEC forecasts, oil production by the former Soviet Union countries will increase by 0.23 million bpd to 12.79 million bpd in 2009.

According to the OPEC forecasts, oil production by the former Soviet Union countries will increase by 0.23 million bpd to 12.79 million bpd in 2009, which is higher by 71,000 bpd than that projected earlier. According to the OPEC September report on the oil market, Azerbaijan still has a key role in this increase.
Azerbaijan's oil production will grow by 0.11 million barrels per day to 1.01 million bpd in 2009 with an increase of 20,000 bpd than the amount projected by the cartel last month, the OPEC forecasted.

According to the report, increase in forecasts is connected with the large volumes of light oil supplies from the Azeri-Chirag-Guneshli block.

In the fourth quarter of 2009, Azerbaijan's oil deliveries will be 1.05 million bpd, the OPEC forecasted.

The total volume of oil supplies by the non-OPEC countries will grow by 0.34 million barrels to 50.81 million bpd in 2009, the same source reported.

In 2010, oil deliveries of these countries will grow by 0.42 million barrels to 51.22 million barrels per day, which is higher by 55,000 barrels than the OPEC forecasted last month.

According to the OPEC forecasts, in 2010 the volume of Azerbaijan's oil supply will hit 1.14 million barrels per day, which is higher by 0.12 million barrels per day than in 2009. In the first quarter of 2010, the amount of the country's oil supplies will amount to 1.07 million bpd, the second - 1.11 million, the third - 1.15 million barrels and fourth - 1.21 million barrels per day.

www.TurkishMaritime.com.tr

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