- June Non-OPEC production increased by 73 kb/d to 48,508 kb/d. The biggest contributors to the increase were Canada (249 kb/d) and China (46 kb/d).
- July production for the Non-OPEC countries is projected to increase by close to 1,300 kb/d over June to 49,802 kb/d by the EIA STEO report.
- On a YoY basis, Non-OPEC production increased by 2,415 kb/d while on a MoM basis production increased by 73 kb/d to 48,508 kb/d.
- World oil production in June increased by 654 kb/d to 76,594 kb/d according to the EIA. The biggest contributor was Saudi Arabia again (465 kb/d), followed by Canada.
- The current December 2022 forecast is 2,142 kb/d, lower than the November 2018 peak of 84,611 kb/d. As best that I can remember, this may be the biggest gap that I have reported.
For further details see:
Non-OPEC June Oil Production Has Small Increase