September 13, 2019
Liquid production growth for non-OPEC countries reached the highest rate on record in 2018, with a growth of almost 2.9 million barrels per day (bbl/d). For this year, the trend suggests that non-OPEC countries’ liquid production will reach above 2 million bbl/d once again, led by tight oil. Rystad Energy expects liquid production growth of non-OPEC countries will continue reaching record highs in 2020. However, despite strong tight oil production, offshore will have a much greater role on the market next year. Growth in offshore production from Norway and Brazil will bring the total offshore supply close to 1 million bbl/d. This will therefore be the third consecutive year to deliver liquid a production growth of more than 2 million bbl/d.
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Rystad Energy is an independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry. Our products and services cover energy fundamentals and the global and regional upstream, oilfield services and renewable energy industries, tailored to analysts, managers and executives alike. Rystad Energy’s headquarters are located in Oslo, Norway with offices in London, New York, Houston, Stavanger, Moscow, Rio de Janeiro, Singapore, Bangalore, Tokyo, Sydney and Dubai.