In January, liquids production by countries not aligned with Opec-plus amounted to 50.9 million barrels per day, not including refining gains, denoting a monthly decline of 200,000 b/d, Energy Intelligence estimates based on preliminary assessments. Relatively speaking, however, this is a positive result: A year ago, non-Opec-plus’ January production plummeted by a head-spinning 2 million b/d after inclement weather waylaid wells across North America. This explains why last month’s liquids output wound up being a whopping 2.4 million b/d higher than in January 2024.
