The US is set to supply 89% of crude oil supply growth from non-OPEC countries after increasing industry investment 42% to $0.01m bbl 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.
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.