OPEC Cuts Forecast of Oil Supply Growth From Rival Producers ...Middle East

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…

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