GS still expects shale output to grow, but not so quickly:
- shale oil production to grow by 0.7 m barrels /day in 2020
- previous 2020 forecast was 1 m bpd
- 2019 1.1 m bpd
Supply growth from major oil producing non-OPEC regions, outside of shale
- 1.4 m bpd in 2020
- to 0.2 m bpd in 2021
- 0.3 m bpd in 2022
On the demand side for oil:
- global oil demand growth to 1.3 m bpd (from 1.4 million bpd previously)
