Vienna: Non-DoC liquids supply, which refers to liquids supply from countries not participating in the Declaration of Cooperation (DoC), is projected to increase by approximately 0.8 million barrels per day (mb/d) in 2025, reaching an average of 54.0 mb/d. This growth is anticipated to be spearheaded by the United States, Brazil, Canada, and Argentina, while Angola is expected to experience a decline.
According to Emirates News Agency, the expansion of non-DoC liquids supply is set to continue into 2026, with a forecasted growth of 0.7 mb/d, bringing the average to 54.7 mb/d. The primary contributors to this growth remain the United States, Brazil, Canada, and Argentina. Additionally, DoC Natural Gas Liquids (NGLs) and non-conventional liquids are projected to increase by 0.1 mb/d in 2025, averaging 8.4 mb/d.
In 2026, DoC NGLs and non-conventional liquids are expected to grow by about 130 thousand barrels per day (tb/d), averaging 8.5 mb/d. Furthermore, OPEC NGLs and non-conventional liquids production is anticipated to rise by 0.1 mb/d in 2025, averaging 5.6 mb/d, and by 150 tb/d in 2026, reaching an average of 5.8 mb/d.
DoC crude oil production saw an increase of 180 tb/d in May, month-over-month, averaging 41.23 mb/d, as reported by available secondary sources.