US-led ramp up in oil output undermining Opec cuts — IEA | Financial Times:
Supply curbs by Opec are being undermined by “relentless” production growth outside of the cartel led by the US, a trend that will continue in 2020.
The International Energy Agency said in its monthly oil market report that non-Opec supply will accelerate from 1.9m barrels a day to 2.3m b/d next year.
“Plentiful supply will be available,” said the IEA in its outlook that includes 2020 estimates for the first time. US gains will be supported by Brazil, Canada, and Norway.
No comments:
Post a Comment