Global oil supply short-term update - July 2025
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Report summary
Table of contents
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Global Supply: minor changes to the outlook as prices return to below $70/bbl
- Non-OPEC supply: downgrades to GoM offset by upgrades to US Lower 48 oil and NGL supply in 2026
- OPEC: key producers continue to unwind cuts as supply unaffected by conflict
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What's included
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