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Wednesday, December 13, 2017

OPEC expects equilibrium in the market for 2018 despite the higher US pumping

The production cut launched a year ago by OPEC to reduce excess supply in the market will allow the market to be balanced by the end of 2018, despite the fact that the pumping of US shale oil will rise to record levels, according to forecasts published today by the energy group.

In its latest report of the year on the market situation, OPEC forecasts that the total production of its competitors will increase by 0.9 million barrels per day (mbd), to reach 56.58 mbd.

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