The Organisation of the Petroleum Exporting Countries (OPEC) says, its Non-OPEC oil supply is expected to expand by 1.5 million barrels per day (mb/d) in 2023. OPEC said this in its Monthly Oil Market Report for August obtained by the News Agency of Nigeria (NAN) on Friday. NAN reports that Non-OPEC oil producers are crude oil-producing nations outside of the OPEC group and shale oil producers. According to the report, for 2024, non-OPEC oil production is projected to grow by 1.4 mb/d, unchanged from the previous assessment. According to the report, the OECD is anticipated to expand by about 0.3 mb/d, with OECD Americas contributing the largest increase.

Source: Nigerian Tribune August 11, 2023 19:07 UTC