Global oil demand growth to increase 1.2mb/d 2H19 - OPEC

CONTINUED FROM PAGE 01 to increase by 2.1 mb/d y-o-y, which is less than growth seen over the same period a year earlier.

The non-OPEC supply growth slowed slightly in 1H19 due to takeaway capacity restrictions in the Permian Basin in the US, mandatory production limitations in Canada, and heavy maintenance operations elsewhere.

For 2H19, non-OPEC supply growth is anticipated to show further upside potential, with higher production expected in the US, as well as production increase in Brazil and possibly the start-up of Norway’s Johan Sverdrup field in the North Sea, leading to a growth forecast of 2.14 mb/d for 2019, the report said.