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In a monthly report, the Organization of the
Petroleum Exporting Countries (OPEC) left its forecast for
non-OPEC supply this year unchanged, but said output of U.S.
tight oil, also known as shale, could be curbed.
"Tight crude producers are aware that typical oil wells in shale
plays decline 60 percent annually, and that losses can only be
recouped by drilling new wells," OPEC said in the report.
"As drilling subsides due to high costs and a potentially
sustained low oil price, a drop in production can be expected to
follow, possibly by late 2015."
In the report, OPEC left its forecast for 2015 world oil demand
growth unchanged and made virtually no change to its estimate of
the demand for its crude this year.
(Reporting by Alex Lawler; Editing by David Holmes)
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