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Non-Opec-Plus: Second-Quarter Breakout Sets Stage for Record Year

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In the second quarter, countries not aligned with Opec-plus produced 45.2 million barrels per day of hydrocarbon liquids, excluding refining gains, an increase of over 1 million b/d compared with the first three months of the year. Output remained 400,000 b/d behind pre-pandemic levels in the first quarter of 2020, but a forecasted surge of 800,000 b/d in July-September should prop this group of producers to 46.1 million b/d, a new record. Annually, non-Opec-plus is on track to finish 2022 with an average 45.4 million b/d, or 1 million b/d over the all-time high in 2019.

Topics:
Crude Oil, Oil Supply, Non-Opec Supply
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