Global oil supply short-term update - October 2023
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Report summary
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Global Supply: steady as it goes, OPEC+ make no changes to current production policy
- Non-OPEC supply: upgrades to US NGLs dominates changes this month
- US Lower 48 production on track to add close to 800,000 bpd in 2023
- OPEC supply: no change to policy as Saudi Arabia and Russia continue voluntary cuts
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