Lower upstream spending amid falling oil prices is set to slow the growth in oil supply from producers outside the OPEC+ pact this year and next, OPEC said in its monthly report on Wednesday. Liquids supply from OPEC+’s rivals – including the United States – is set to increase by 800,000 barrels per day (bpd) in 2025, down by 100,000 bpd compared to OPEC’s assessment of 900,000-bpd growth last month.
In 2026, liquids supply from non-OPEC+ producers is expected to rise by another 800,000 bpd, also down by 100,000 bpd from…OPEC Cuts Forecast of Oil Supply Growth From Rival Producers
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