# OPEC sees growing supply threat from rivals beyond U.S. shale

> OPEC's monthly report raised its forecast for 2020 non-OPEC supply growth by 180,000 b/d to 2.35 million b/d, driven by offshore projects in Norway, Guyana and elsewhere. OPEC still expects a surplus to build after the first quarter despite raised demand estimates.

- Date: 2020-01-15 · published 2020-01-15T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/54974-opec-sees-growing-supply-threat-from-rivals-beyond-u-s-shale
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Faster rival supply growth threatens a glut that would pressure crude prices lower, reducing energy costs for feed producers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-02-12 | [OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives - TT](https://feedsoft.ai/events/60519-opec-sees-weaker-demand-for-its-crude-as-us-oil-supply-thrives-tt.md) | +8.0% | +7.2% |
| BRENT | 2018-09-23 | [OPEC raises U.S. oil supply outlook, sees lower demand for own crude](https://feedsoft.ai/events/62935-opec-raises-u-s-oil-supply-outlook-sees-lower-demand-for-own-crude.md) | +4.9% | +1.6% |
| BRENT | 2020-01-16 | [IEA sees well-supplied oil market despite slower shale growth \| S&P Global](https://feedsoft.ai/events/54972-iea-sees-well-supplied-oil-market-despite-slower-shale-growth-s-and-p-global.md) | -1.5% | -12.5% |
| BRENT | 2018-02-12 | [OPEC hikes 2018 forecast for oil supply growth on a flood of US crude](https://feedsoft.ai/events/66425-opec-hikes-2018-forecast-for-oil-supply-growth-on-a-flood-of-us-crude.md) | +2.6% | +3.9% |
| BRENT | 2018-11-22 | [Oil falls on rising U.S. inventories, OPEC talk of cut limits loss](https://feedsoft.ai/events/10582-oil-falls-on-rising-u-s-inventories-opec-talk-of-cut-limits-loss.md) | -6.7% | -9.8% |
| WTI | 2019-02-12 | [OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives - TT](https://feedsoft.ai/events/60519-opec-sees-weaker-demand-for-its-crude-as-us-oil-supply-thrives-tt.md) | +6.0% | +8.3% |
| WTI | 2018-09-23 | [OPEC raises U.S. oil supply outlook, sees lower demand for own crude](https://feedsoft.ai/events/62935-opec-raises-u-s-oil-supply-outlook-sees-lower-demand-for-own-crude.md) | +3.4% | -2.3% |
| WTI | 2020-01-16 | [IEA sees well-supplied oil market despite slower shale growth \| S&P Global](https://feedsoft.ai/events/54972-iea-sees-well-supplied-oil-market-despite-slower-shale-growth-s-and-p-global.md) | -4.0% | -11.1% |

## Sources

- worldoil.com: https://www.worldoil.com/news/2020/1/15/opec-sees-growing-supply-threat-from-rivals-beyond-u-s-shale/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.