In its Monthly Market Report released today, OPEC said it expects its share of the global oil market to shrink in 2015 for the third consecutive year, mainly because of the ongoing US shale revolution.

OPEC’s report indicated that demand for its oil in 2015 will average 29.4 M/bd, a drop of 310 K/bd from 2014.

 

OPEC Monthly Market Report July 2014

Source: OPEC Monthly Market Report

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