Summary The EIA sees World Total Liquids declining early in 2023 with no gain for the total year. World total liquids average about 20 million barrels per day higher than C+C. Twenty years ago it was less than half that. EIA thinks OPEC will keep cutting through December, then start to increase production gradually until they are back to their October 2022 level. pichitstocker/iStock via Getty Images The EIA’s Short-Term Energy Outlook gives the USA data as C+C as well as all liquids, OPEC as crude only, but the rest of the world is Total Liquids only. All STEO charts below are a million barrels per day. Other charts, not part of the STEO, are in a thousand barrels per day. Also note that the EIA posts known data in bold and future predictions in a lighter font. They post known data through November 2022. Obviously, all production is not known through November, but I have not tried to guess what they do know but posted the data as they posted it, known through November. But understand the November data, as well as October data, will almost certainly be revised later. The EIA sees World Total Liquids declining early […]
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