U.S. leads non-OPEC producers

March 13, 2013 at 8:09 AM   |   0 comments

VIENNA, March 13 (UPI) -- Demand for OPEC crude oil is declining as non-cartel producers in North America continue their growth, the cartel said in its monthly report for March.

The Organization of Petroleum Exporting Countries, in its March report, said gains from non-OPEC producers were led by the United States.

"As in the previous year, U.S. oil supply in 2013 is expected to achieve the highest growth among all non-OPEC countries," OPEC said.

Adam Sieminski, administrator for the U.S. Energy Information Administration, said trends in the United States meant it was relying less on foreign markets to meet energy demands.

"Higher U.S. oil production means America will need less imported oil," he said in a statement. "After reaching a record 60 percent of domestic oil demand in 2005, net oil imports next year are forecast to fall to 32 percent of consumption, the lowest level since 1985."

OPEC said it expected cartel members would be called on to supply 29.7 million barrels of oil per day in 2013, which is 400,000 bpd less than 2012.

Nevertheless, OPEC said the oil boom in the United States, led by shale developments in Texas and North Dakota, is expected to slow in 2013. U.S. oil supply growth is projected by OPEC at 600,000 bpd in 2013, about 40,000 bpd less than last year.

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