OPEC+ Push for Market Share Strengthens as Rivals Lose Momentum

OPEC+ has taken a financial hit from its dramatic move to recoup oil market share, but it could pay off in the long term.

Wood Mackenzie, a leading energy consultant, estimates in newly-released figures that growth in non-OPEC supply — led by countries like Brazil, Canada and Guyana — will shrink more than 80% between this year and 2027, when it will almost grind to a halt. Rystad Energy A/S in Oslo has slashed its outlook in recent months.