OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle.
The United States remained the world’s top producer of petroleum and natural gas hydrocarbons in 2016, according to figures released by the US Energy Information Administration (EIA).
A new poll of oil market experts has found they expect the price of a barrel of Brent crude to gradually rise towards $60 per barrel by the end of 2017, from an average of about $45 this year.
Opec and the US Energy Information Administration (IEA) have agreed in principle to meet more often to discuss oil markets following a get together in Washington yesterday.
