EIA: Russia’s oil output to fall to 9.3 mln bpd in Oct–Dec 2023

MOSCOW, Jun 7 (PRIME) -- Russia’s oil production should fall to 9.3 million barrels per day (bpd) in October–December 2023 from 11.3 million bpd in January–March 2022, the Energy Information Administration (EIA) said in a report on Tuesday.

The EIA expects the U.S. oil output to shrink by 10,000 bpd to 11.92 million bpd in 2022, and to rise by 120,000 barrels to 12.97 million bpd in 2023.

The authority also upgraded the expectation of the average annual price of the Brent oil blend to U.S. $107.37 per barrel in 2022 from $103.35 per barrel, while the forecast for 2023 was maintained at $97.24 per barrel.

The forecast for the world’s combined demand for oil in 2022 was kept at 99.6 million bpd, while the forecast for 2023 was reduced to 101.32 million bpd from 101.55 million bpd.

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