OPEC & Global Markets

Opec's market management since the start of 2017, in coordination with Russia and other 'non-Opec' countries, is widely seen as a success. But the organization has been losing market share, to fast-growing US shale in particular. Higher oil prices may ease stretched Opec budgets, but the longer they continue the more they boost rival output.

US Shale Oil Output (Mn B/D): Set To End 2018* Just Shy Of 8mn B/D, Up 2.8mn B/D On Two Years Earlier
World Oil Demand 2010 To 2040 (Mn B/D): Petchems Growth Leads The Way
World’s Top Crude* Producer (Mn B/D):