The Organization of the Petroleum Exporting Countries (OPEC) expects non-OPEC oil supply growth to increase by 200,000 barrels per day in 2018, driven mostly by US, Canada, Kazakhstan and Brazil, according to the organization's Thursday report.
LONDON (Pakistan Point News / Sputnik - 11th October, 2018) The Organization of the Petroleum Exporting Countries (OPEC) expects non-OPEC oil supply growth to increase by 200,000 barrels per day in 2018, driven mostly by US, Canada, Kazakhstan and Brazil, according to the organization's Thursday report.
"Non-OPEC oil supply growth in 2018 is estimated at 2.22 mb/d, an upward revision of 0.20 mb/d from the previous month's assessment. The US, Canada, Kazakhstan and Brazil are expected to be the main drivers for y-o-y growth, while Mexico, Norway, Indonesia and Vietnam will show the largest declines. Total non- OPEC supply for 2018 is now estimated at 59.77 mb/d," the report read.
