Commodities
Eurasia Non-OPEC Oil Output Predicted to Decline in 2026 Before Recovering in 2027
The U.S. Energy Information Administration (EIA) has released its September outlook, predicting that Eurasia's non-OPEC oil output will decline in 2026 before recovering in 2027.
Azerbaijan's oil production is expected to average 550,000 barrels per day in 2026, remaining unchanged from the August forecast.
Global oil inventories have fallen by an estimated 400 million barrels so far this year and are expected to continue decreasing through the end of 2026, keeping prices near the August average before Brent crude eases towards $74 a barrel in 2027.
The EIA's outlook also notes that Middle East export constraints will persist through the end of 2026, with regional production below pre-conflict averages until the second quarter of 2027.