Global oil supply short-term update - August 2022
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Global supply: Libya production bounces back and OPEC+ opt for a minimal supply increase
- Russia: production stabilises in July; US proposes price cap for Russia crude oil exports
- Non-OPEC supply: upward revisions to Russia and Argentina exceed downgrades to Brazil
- US Lower 48: growth remains slow and steady
- OPEC supply: OPEC+ agrees to a 100,000 b/d increase for September
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