“The Americas Will Take Crown for Biggest Oil Growth as OPEC Shrinks”
“For the first time in at least two years, the Americas will be the world’s biggest driver of oil production growth, while OPEC cuts back.”
“For the first time in at least two years, the Americas will be the world’s biggest driver of oil production growth, while OPEC cuts back.
Western hemisphere producers will add more than 1.6 million barrels a day of new supply this year, shifting the balance of growth away from the cartel that has, until this year, led global production gains, according to the Energy Information Administration. And that growth won’t just come from US shale producers, who have long vied with OPEC for market share, but from fields across South America and even Canada that can’t be easily turned off when prices slide.
That new production will almost completely offset the output cuts OPEC — and even ally Russia — are undertaking from May as they seek to shore up global oil prices.”
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https://twitter.com/GloOouD/status/1656710198277423124