Statoil: OPEC Set For 2020s Output Boost
Demand for OPEC crude will rise by around 10% over the decade from 2020 as growth in non-OPEC production – led by US light tight oil (LTO) – begins to subside, Norway’s state-owned Statoil says in its recently-released ‘Energy Perspectives’ long-term energy outlook to 2040. The US production boost means stagnant demand for OPEC crude through the end of the current decade, Statoil says.