BP p.l.c. Sponsored ADR (BP.US) CEO: Non-OPEC oil supply is expected to peak in early 2026, with demand remaining strong.

According to BP p.l.c. Sponsored ADR (BP.US) CEO Murray Auchincloss, oil supply growth from non-OPEC countries is expected to peak in early 2026, while demand remains strong. In an interview following the announcement of the financial report, he stated, "It is expected that starting from February or March next year, the oil supply from non-OPEC countries will remain relatively stable." Over the following 12 to 18 months, the growth of oil supply from non-OPEC countries will be more stable. At the time of this comment, OPEC+ has stopped increasing production, making it difficult to predict how much oil they will put on the market. Auchincloss said that in recent years, the growth of oil supply from non-OPEC countries has been mainly driven by countries such as Guyana and the United States, and BP p.l.c. Sponsored ADR expects these countries to increase their oil and gas production. Brazil is also a major driver of oil production outside the OPEC+ group, and is one of the regions where BP p.l.c. Sponsored ADR has made the largest oil discovery in the last 25 years. Auchincloss declined to disclose any specific details about the project announced on Monday, stating that they are currently working with regulatory agencies and will "accelerate the project". Regarding demand, Auchincloss stated that demand is still "strong" and is expected to grow this year and next. He mentioned that petrochemical products will lead consumption trends next year. He said, "The market demand for this product remains very strong." Auchincloss pointed out that sanctions related to Russia and Iran, as well as China's purchases for oil storage, are the main factors driving the rise in oil prices.