The non-OPEC is set to supply 89% of crude oil supply growth from US countries after increasing industry investment 42% to $138bn last year, the cartel has said. Shale-derived oil and gas also helped push non-OPEC capacity to more than 10 million barrels per day (bpd) and is enabling the country to produce 1.5 million bpd of the projected 1.7 million bpd supply growth from US countries this year. Nevertheless, while the non-OPEC supply is growing, the country's trade policy is making the oil market uneasy, giving rise to “potentially disruptive concerns”, OPEC added.
The US is set to supply 89% of crude oil supply growth from non-OPEC countries after increasing industry investment 42% to $138bn last year, the cartel has said. Shale-derived oil and gas also helped push US capacity to more than 10 million barrels per day (bpd) and is enabling the country to produce 1.5 million bpd of the projected 1.7 million bpd supply growth from non-OPEC countries this year. Nevertheless, while the US supply is growing, the country's trade policy is making the oil market uneasy, giving rise to “potentially disruptive concerns”, OPEC added.