Global oil supply short-term update - December 2023
Report summary
Table of contents
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Global Supply: OPEC+ pledges to deepen its planned production cuts for Q1 2024
- Non-OPEC: revisions to key US NGLs plays drives downgrades in 2024 and 2025
- US Lower 48 production will add more than 850,000 b/d in 2023
- OPEC: deeper cuts agreed by six OPEC+ members for Q1 2024; Saudi Arabia rolls over 1 million b/d cut
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