Non-OPEC oil production to rise by 600,000 bpd by end of 2005

Aug 22, 2005 02:00 AM

The output of non-OPEC oil producing countries in the last quarter of 2005 will rise by 600,000 bpd to 51 mm bpd from 50.4 mm bpd in the third quarter of the year, said OPEC in its latest report.
OPEC's latest report was quoted as saying that members of the Organization for Economic Cooperation and Development (OECD) will produce as many as 20.7 mm bpd in the final quarter of the year, showing an increase of 100,000 bpd compared to their current output.

Oil production by West European states will also rise by 200,000 bpd in the last quarter of the year, reaching 5.9 mm bpd. Based on the report, the crude production capacity of the developing states will increase by 300,000 bpd to 12.8 mm bpd in the last quarter of 2005.
OPEC also estimates the output of the North American states to stand at 14.3 mm bpd, that of the former Soviet republics at 11.9 mm bpd, that of the Pacific states at 0.5 mm bpd and that of China at 3.6 mm bpd in the last quarter of the year.

Source: PIN/IRNA