The OPEC+ on Wednesday its forecast for the growth of the oil supply from the United States and other producers not belonging to the OPEC+ group this year and said he expected a lower capital expense after the fall in oil prices.
The supply from countries outside the declaration of cooperation – formal name of the OPEC+ – will increase by about 800,000 barrels per day in 2025, According to the monthly OPEC+report, compared to the 900,000 barrels daily planned last month.
A slowdown in the growth of the offer outside the OPEC+, which groups the organization of more Russia oil export countries and other allieswould facilitate OPEC+ balance the market. The rapid growth of the American schist and other countries has weighed prices in recent years.
In recent weeks, oil prices have been pressed by OPEC+ decisions to increase production in May and June more quickly than expected at first.and for the tariffs of the president of the United States, Donald Trump.
In the report, the OPEC+ said that the investment in exploration and production outside the OPEC+ in 2025 would decrease around 5% year -on -year. In 2024, the investment increased by around US $ 3,000 million interannuals to reach US $ 299,000 million, OPEC said.
“The potential impact on production levels in 2025 and 2026 of the decrease in investments in oil exploration and production will constitute a challenge, Although the industry continues to focus on efficiency and productivity improvements, “OPEC said in the report.
Although the United States is expected to continue promoting supply growthOPEC provides that the total production of American oil will increase in about 300,000 BPD this year. Last month, it provided for a growth of 400,000 BPD.
He maintained unchanged his forecasts for the growth of world demand for oil in 2025 and 2026, after last month’s reductions. He cited the impact of demand data for the first quarter and commercial tariffs.
The group welcomed with satisfaction the trade agreement reached this week by the United States and China.
“The 90 -day trade agreement between the United States and China suggests the possibility of more durable agreements, That they probably support normalization of commercial flows, but with potentially high tariff levels compared to the climbs before April, “said the OPEC.
