OPEC expects slower 2025 oil supply growth from rivals after price drop

Reuters

Wed, May 14, 2025, 5:03 AM 1 min read

LONDON (Reuters) - OPEC connected Wednesday trimmed its forecast for maturation successful lipid proviso from the United States and different producers extracurricular the wider OPEC+ radical this twelvemonth and said it expected little superior spending pursuing a diminution successful lipid prices.

Supply from countries extracurricular the Declaration of Cooperation - the ceremonial sanction for OPEC+ - volition emergence by astir 800,000 barrels per time successful 2025, OPEC said successful a monthly report, down from past month's forecast of 900,000 bpd.

Lower proviso maturation from extracurricular OPEC+, which groups the Organization of the Petroleum Exporting Countries positive Russia and different allies, would marque it easier for OPEC+ to equilibrium the market. Rapid maturation from U.S. shale and from different countries has weighed connected prices successful caller years.

OPEC successful the study near its forecasts for planetary lipid request maturation unchanged successful 2025 and 2026, aft reductions past month, citing the interaction of first-quarter request information positive the interaction of commercialized tariffs.

(Reporting by Alex Lawler; Editing by Barbara Lewis)