JP Morgan expects increased oil output from non-OPEC nations

The oil supply from non-OPEC petroleum producers is expected to surge significantly in 2019, headed by US shale production and increased Russian output, projects JP Morgan.

Photo: Ritzau Scanpix/Claus Bonnerup.

Oil prices on the European reference oil Brent as well as the US' West Texas Intermediate (WTI) were stable Monday morning CET.

Reuters reports that oil prices are, on the one hand, affected by increasing Russian production, while drilling activity in the US is at the highest level since 2015. On the other hand, there is upward pressure from strong demand, especially in Asia.

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