US emerges unscathed from Opec strategy
Prices fall after cartel refuses to cut production, but US crude output this year will climb to 9.47 million barrels a day
Add BT as a preferred source
London
EIGHT months into the Organization of the Petroleum Exporting Countries' (Opec) plan to hit rival oil producers, the casualties are mounting. Surprisingly, the most resilient may be the one that triggered the fight: the US.
Projections for combined daily output from Brazil, Canada, Russia, Mexico and Colombia by the end of the decade were cut by 2.8 million barrels since oil slumped last year, data from the countries and the International Energy Agency (IEA) show. In contrast, the US Energy Department increased its estimate for crude output in 2020 by more than a million barrels.
Share with us your feedback on BT's products and services
