02202020Thu
Last updateWed, 19 Feb 2020 3pm

End-User News

OPEC: U.S. Shale Cutting into Market Share

According to their latest World Oil Outlook, OPEC expects to take up a smaller share of the world’s oil markets in the coming years. This is thanks in large part to the continuing expansion of U.S. shale. They project non-OPEC liquids supply to grow by 9.9 million b/d between 2018 and 2024, the majority coming from U.S. tight oil.

OPEC also anticipates the U.S. & Canada to increase crude and condensate exports in the medium-term.

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