Non-OPEC oil supply unlikely to bounce back to pre-pandemic levels in short term, predict analysts
Analysts have warned that non-OPEC oil and gas supply is unlikely to renege on its 2020 losses in the short-term.
A file photo of a drilling rig.
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Analysts have warned that non-OPEC oil and gas supply is unlikely to renege on its 2020 losses in the short-term.
A reduction in capex and a “very thin” upstream project pipeline is going to limit the ability of operators to bounce back to pre-Covid-19 production levels, said Joel Hancock, oil specialist at French investment bank Natixis.