OPEC+ to increase oil supply, expand market share by 2050

OPEC+ to increase oil supply, expand market share by 2050 By 2030, OPEC+ countries could provide oil supply of 55.3 million bpdMOSCOW, June 18. /TASS/. OPEC+ countries will increase oil supply by nearly 14 million barrels per day (bpd) compared to 2025 to as high as 64.5 million bpd and will also increase their share of the global market from 48% in 2025 to 52% by 2050, the OPEC said in its World Oil Outlook. By 2030, OPEC+ countries could provide oil supply of 55.3 million bpd, which is 4.7 million bpd more than in 2025. OPEC also notes that oil supply from non-OPEC+ countries will increase by approximately 4 million bpd by 2030, reaching 58.2 million bpd, and will stay at around 60 million bpd in the 2030s. Canada and Argentina stand out from other non-OPEC+ countries and their supply will continue to grow even after 2030, OPEC added. 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