OPEC raised the forecast of growth of oil supplies in 2018 from non-OPEC 160 thousand b/d

OPEC raised the forecast of growth of oil supplies in 2018 from non-OPEC 160 thousand b/d for USA and Canada

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Moscow. 18 Jan. INTERFAX – the Forecast of growth of oil supplies from countries outside OPEC in 2018 increased by 160 thousand barrels per day – up to 58,94 million b/d, according to the monthly report of OPEC.

The forecast of growth of oil supplies in 2017 from countries non-OPEC revised slightly lower and amounted to 0.77 million b/d – up to 57,79 million b/d. Thus, expected cartel in 2018, the country non-OPEC will increase oil supplies to the world market by 1.15 million b/d.

Read the news also on the website “Energoinform”

In 2017, the growth in supply from the USA, Canada, European countries, Europe and Russia confirmed, but slightly reduced the forecasts deliveries in Norway, the UK, Indonesia, Argentina and Brazil .

According to a new report, it is expected that in 2018 the supply of oil from non-OPEC will increase by 121 thousand b/d compared with the previous forecast mainly due to larger shipments from the United States, Canada, Mexico, UK, Denmark, Indonesia, Brazil, other Latin America and other CIS countries, while expectations for Norway and other European OECD countries, Australia, Argentina, Egypt and Russia reduced.

Higher oil prices bring more oil to the market, especially in North America, especially for tight oil production, experts say the cartel.

In particular, the growth forecast for shipments from the United States increased by 110 thousand b/d – from 15.29 million b/d in 2018, to 15.4 million b/d. Thus, OPEC expects that in 2018 the United States will increase the supply of oil by 1.14 million b/d compared with the 2017 year.

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