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OPEC lifts US shale production forecast for next 4 years

OPEC revised upward its North American shale output prediction to 7.5 million barrels per day in 2021, an improvement of 56% from its 2016 forecast, according to OPEC's World Oil Outlook report. "This growth is heavily front-loaded, as drillers seek out and aggressively produce barrels from sweet spots in the Permian and other basins," OPEC said, adding that it expects shale output to peak after 2025.

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