Insight: Headwinds To Slow Production Growth In 2019
Russia and CIS and Africa have also increased production during this quarter (by 177,000 bbl/d and 118,000 bbl/d, respectively). Meanwhile, the production loss in Latin America continued through the third quarter.
In our forecast, global oil production in fourth-quarter 2018 will increase by about 705,000 bbl/d. North America and Africa together will boost production by more than750,000 bbl/d. Latin America is expected to mitigate its production decline and start to stabilize production from first-quarter 2019 as new presalt projects are scheduled to come onstream in Brazil.