• Every year the IEA’s flagship World Energy Outlook (WEO) projects Opec’s share of global oil markets rising over the coming decades. And every year the projections keep getting pushed back.
• The latest WEO, released earlier this month, has Opec’s market share rising from 42.7% (39.6mn b/d including NGLs) in 2017 to 44.8% by 2040. Seemingly good news for Opec. But then the IEA’s 2014 WEO predicted Opec’s market share rising to 49.2% by 2040. The number has been cut every year since. (CONTINUED - 295 WORDS)
