OPEC Raises Oil Supplies from Non Members in 2015

OPEC on Tuesday raised its forecast of oil supplies from non-member countries in 2015, a sign that oil’s price collapse is taking longer to impact on shale and other competing sources than previously thought.

In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for non-OPEC supply this year by about 90,000 barrels per day (bpd).

OPEC also raised its estimate of 2015 world oil demand growth by 90,000 bpd, but due to the higher supply expected from outside producers the demand for OPEC crude remains steady at 29.23 million bpd.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza