MOSCOW, March 14. /TASS/. Global crude oil production will go down by 870,000 barrels per day in Q1 2024 quarter-on-quarter due to difficult weather conditions in some regions and new OPEC+ output cuts, the International Energy Agency (IEA) said in its March report.

Overall, the agency expects global oil supply to rise by 800,000 barrels per day this year to 102.9 mln barrels per day with OPEC+ countries’ output adjustments taken into account.

Crude production by non-OPEC countries will increase by 1.6 mln barrels per day in 2024, the IEA said. The US is expected to be the leader in terms of production growth. A notable increase in output is also projected in Guyana, Brazil and Canada. All those countries are expected to post a record level of oil production by the end of this year, the agency noted.