OPEC

OPEC: Oil to remain dominant fuel until 2040

OPEC released its 2018 World Oil Outlook (WOO). This year’s report highlights the industry’s various linkages, and considers developments in areas such as the global economy, energy demand, oil supply and demand.

WOO examines the medium and long-term prospects to 2040 for the global oil industry, and analyzes various sensitivities that can impact the petroleum industry in the years ahead.

This year’s publication emphasizes the industry’s various linkages, and considers developments in areas such...

https://safety4sea.com/opec-oil-to-remain-dominant-fuel-until-2040/

OPEC: US oil output to increase, but demand for OPEC crude will reduce

OPEC expects a steady rise in US oil output, as it will gain momentum in the next five years. OPEC also expects the demand for its crude to reduce, in spite of an increasing appetite for energy driven by global economic expansion.

The reduction in demand for OPEC crude is due to a strong non-OPEC supply in the 2017–2023 period, OPEC notes. The US is still the most important source of medium-term supply growth, contributing to two-thirds of new supply.

In addition, according to Reuters, the US has...

https://safety4sea.com/opec-us-oil-output-to-increase-but-demand-for-opec-crude-will-reduce/

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