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Monday, 12 September 2016

Opec forecasts higher production from non-members next year | The National

Opec forecasts higher production from non-members next year | The National:

"Opec raised its forecast of oil supplies from non-member countries next year as new fields come online and US shale drillers prove more resilient than expected to cheap crude, pointing to a larger surplus in the market.

Demand for crude from Opec will average about 32.4 million barrels per day next year, the group said. That is down from the previous forecast of 33 million bpd.

Opec itself kept output near a multi-year high last month, pumping 33.2 million bpd, according to figures it collects from secondary sources, down 23,000 bpd from July’s figure, the report said."



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