Global oil supply short-term update - May 2024
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Report summary
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Global Supply: minor changes to the outlook as market ponders early June OPEC+ outcome
- Non-OPEC supply: downgrades across North America, Europe and Africa drive changes this month
- Lower 48 annual oil production growth forecast to slow to 250,000 b/d in 2024
- OPEC: OPEC+ production cuts continue in Q2
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