Oil producer club OPEC+ faces limited scope to increase supply as US, Brazil, and Guyana boost output, meeting global demand growth, BP's Spencer Dale states. OPEC+ has kept 5.8 million barrels per day off the market and plans to gradually return supply starting October. Dale believes OPEC will maintain influence in the oil market despite rising non-OPEC supplies. He predicts EVs will impact oil demand significantly by the 2040s, with rapid electric vehicle adoption in China.
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