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What to watch for oil supply in 2014

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Report summary

Global supply posted gains of almost one million b/d in 2013. Strong non OPEC growth was tempered by significant supply disruption to key OPEC producers. Despite this volatility supply prospects remain bullish in the near term. Non OPEC supply is forecast to add almost 1.9 million b/d in 2014 driven primarily by US tight oil and additional production capacity in Brazil. OPEC production is expected to fall slightly. As was the case in 2013 potential for significant supply disruptions remain.

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