OPEC Raises 2018 Non-OPEC Oil Production Outlook Again

OPEC raised its non-OPEC oil production guidance Thursday, as crude supplies from the U.S., Canada, Brazil and the U.K. grow.

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In its April report, the cartel said it now sees non-OPEC production growing by 1.7 million barrels per day in 2018, an increase of 80,000 bpd. Most of the growth will come from the U.S., which OPEC sees boosting production by 1.5 million bpd.

OPEC also upgraded its global demand forecast, predicting growth of 1.63 million bpd, up by 30,000 bpd from its prior...

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