RE: Stock On Loan5 Nov 2019 09:48
Courtesy of Daltry on HUR.
From Reuters today...
Opec, the 14-nation oil producer group, has said it will cut the amount of supply in the next five yeas from 35 million barrels per day in 2019 to 32.8 million by 2024.
It says output of US shale oil - also known as tight oil - is rising and expects it to reach 16.9 million barrels per day in 2024 from 12 million in 2019.
"Mohammad Barkindo, Opec's secretary general, said: "Non-Opec supply prospects have been revised up sharply as US tight oil, in particular, has again outperformed expectations".