OPEC Expects Slower Growth in Oil Supply from Rivals in 2025 Following Price Drop

The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday revised down its forecast for oil supply growth from the United States and other non-OPEC+ producers for this year, citing an expected decline in capital spending due to falling oil prices.اضافة اعلان

In its monthly report, OPEC stated that supply from countries outside the Declaration of Cooperation — the official name for the OPEC+ alliance — is projected to increase by around 800,000 barrels per day in 2025, down from last month's forecast of 900,000 barrels per day.

A slowdown in supply growth from outside OPEC+, which includes OPEC, Russia, and other allies, would make it easier for the group to balance the global oil market.

The rapid growth of U.S. shale oil and production from other countries has impacted prices over the past few years.

OPEC left its forecast for global oil demand growth unchanged for both 2025 and 2026, following a downward revision last month. The organization cited the impact of first-quarter demand data and the influence of tariffs.

Reuters