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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

By 2040, Opec expects demand to reach 109.80 million bpd, 1.3 million bpd lower than a year ago, reduced by energy efficiency and climate-change mitigation efforts. Only a gentle recovery in oil prices is seen.


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