Weekend oil - OPEC sees big growth in supply and demand over the next 5 years

From OPEC's in a report with a long-term outlook for oil released over the weekend

Sees strong growth in non-OPEC supply in 2017-2023 (US supply highlighted)

• "U.S. remains by far the most important source of medium-term supply growth, contributing ... two-thirds of new supply, driven by surging tight oil output"

Demand

• Notable demand increase from China, India
• Demand increase notable in transportation (airline demand offsetting electric cars)

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Meanwhile, of more immediate relevance perhaps:

• Saudi Arabia: It's highly unlikely we will increase production next year