US forecasts decline in non-OPEC oil supplies
In its April STEO the EIA forecasted non-OPEC liquid supplies at the level of 56.9 million barrels per day in 2016 and 56.69 million barrels per day - in 2017.
The US and Russia are the largest non-OPEC oil producing countries. The US and Russia supplied 15.04 million and 11.03 million barrels of oil and other liquid hydrocarbons per day respectively in 2015, according to EIA.
The STEO for May 2016 forecasts that the US will daily supply 14.49 million barrels of oil and other liquid hydrocarbons in 2016 and 14.38 million barrels per day - in 2017.
Supply from Russia is forecasted at the level of 11.17 million barrels in 2016 and 11.03 million barrels - in 2017. The May forecast on oil supply from Russia has remained unchanged as compared to the EIA`s April STEO.