Investing.com -- The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday revised its prediction for oil supply growth from producers outside the OPEC+ group, including the United States, for the year 2025. The forecasted increase was lowered due to an expected decrease in capital spending linked to a fall in oil prices.

According to OPEC’s monthly report, the supply from nations not part of the Declaration of Cooperation, the formal term for OPEC+, is projected to rise by approximately 800,000 barrels per day (bpd) in 2025. This is a decrease from the previous month’s prediction of 900,000 bpd.

This lowered growth in supply from outside the OPEC+ group, which includes OPEC plus Russia and other allied countries, could simplify the task for OPEC+ to maintain market equilibrium. The rapid expansion of U.S. shale production and output from other countries has exerted downward pressure on prices in the past few years.

In the same report, OPEC maintained its projections for global oil demand growth for 2025 and 2026, unchanged from last month. This decision was influenced by the first-quarter demand data and the effects of trade tariffs.

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