Analyzing the historical and forecasted data for Natural Gas Liquids (NGL) production in the Middle East, it is observed that the production stood at 3.76 million barrels per day in 2023. Historically, there have been occasional fluctuations, such as in 2020 when the production decreased significantly by 4.69%, followed by recovery in subsequent years. Over the last two years, specifically from 2021 to 2023, there was a notable stabilization and a slight increase at an average yearly variation of around 3.6%. Over a longer period, considering the 5-year CAGR, there was a modest growth rate of approximately 0.86%.
Looking ahead into the forecast, the production of NGL is expected to continue on a gradual upward trajectory, projecting around 4.1 million barrels per day by 2028. This predictably represents a 5-year growth rate of about 6.99% and a CAGR of 1.36%. Future trends to keep an eye on include geopolitical stability, changes in energy policies, technological advancements in extraction and production techniques, and the global transition towards greener energy sources which could influence regional production capacities and market demands.
