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Opec's market share to shrink by 2020: report

Rivals keep pumping despite oil's collapse as they prove more resilient than expected

Published Wed, Dec 23, 2015 · 09:50 PM
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London

GLOBAL demand for Opec's crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on the merits of its strategy to let prices fall to hurt other producers.

The Organization of the Petroleum Exporting Countries, which a year ago refused to cut supply to retain market share against higher-cost rivals, in its 2015 World Oil Outlook raised its global supply forecasts for tight oil, which includes shale, despite a collapse in prices.

Demand for Opec crude will reach 30.70 m…

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