Despite surrendering some of its market share to non-OPEC producers over the coming years due primarily to the strong growth in US tight oil output, the IEA sees OPEC producers reclaiming and eventually boosting their share as non-OPEC output begins to tail off post-2020.
But for this to happen, investment will be critical – though given today’s market climate and the resulting 30% slide in oil prices since June, this is something one should certainly not take for granted (see p28). (CONTINUED - 1093 WORDS)
