Non-OPEC Oil Supply Growth Projected To Slump By 60,000 Bp/D To 2.1Mln Bp/D In 2019 - OPEC

Non-OPEC Oil Supply Growth Projected to Slump by 60,000 Bp/D to 2.1Mln Bp/D in 2019 - OPEC

Oil supply growth among the producers outside of the Organization of the Petroleum Exporting Countries (OPEC) is expected to decrease by 60,000 barrels per day to 2.1 million barrels daily in 2019, compared to last month's forecast, mainly due to a downward revision for Canada, an OPEC monthly report showed Thursday

MOSCOW (Pakistan Point News / Sputnik - 17th January, 2019) Oil supply growth among the producers outside of the Organization of the Petroleum Exporting Countries (OPEC) is expected to decrease by 60,000 barrels per day to 2.1 million barrels daily in 2019, compared to last month's forecast, mainly due to a downward revision for Canada, an OPEC monthly report showed Thursday.

"Non-OPEC oil supply growth in 2019 was revised down by 0.06 mb/d to 2.10 mb/d and is now forecast to average 64.16 mb/d for the year. This was mainly due to a downward revision in Canada's supply forecast," the report read.

Brazil, Russia, the United Kingdom and the United States are expected to be "main drivers" for 2019 growth, while Mexico and Norway are likely to see significant decreases.