Latest OPEC report for November thinks that non-OPEC supply will contract more than previously forecast
– Sees bigger contraction in non-OPEC supply in 2016 (-600k vs -380k bpd prior)
There’s nothing in the report about the lifting of Iranian sanctions and the continued fall in prices is the main reason behind the bigger contraction expectation of from non-OPEC supply
OPEC still feel on the right side of their market share battle in latest monthly report
