U.S. shale suppliers are forcing OPEC to revise upward its estimates for supplies originating outside the bloc’s member nations, according to the latest data released by the bloc. Non-OPEC production will increase by 1.15 million barrels per day in 2018, up from a previous estimate of a 990,000-bpd jump for the year in last month’s report. American oil exports, which gained market share over the course of 2016 and 2017, have been offsetting cuts made by OPEC and its band of allies over the past year. “Higher oil prices are bringing more supply to the market, particularly in North America and specifically tight oil, including unconventional NGLs,” OPEC said in its monthly report. “Shale producers in the US have managed to lower their breakeven costs by 30-50 per cent in 2015-17, by improving technology and efficiency and as oil field service providers offered deep discounts on rigs and crews […]