U.S. to lead global oil supply growth, no peak in oil demand in sight – IEA


The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s (IEA) annual oil market forecast. By the end of the forecast, oil exports from the United States will […]

Read more

OPEC sees non-members’ supplies rising in 2018; demand growth seen marginally higher


OPEC has raised forecast for oil supply this year by non-members due to higher U.S. production, which offset output cuts introduced by the group along with some other producing countries. For 2018, non-OPEC supply is revised up by 0.28 mb/d, representing y-o-y growth of 1.66 mb/d, with total non-OPEC supply reading 59.53 mb/d, the Organization […]

Read more