LONDON: OPEC officials heard from industry experts that US oil output growth will likely remain limited in 2021 despite rising prices, OPEC sources said, giving it more power to manage the market in the short term before a potentially strong rise in shale output in 2022.
Officials from OPEC’s Economic Commission Board (ECB) and external presenters attended a meeting on Tuesday focused on US output, the sources said. OPEC heard from more forecasters on the outlook for 2021 and 2022 at a separate meeting on Thursday.
