Liquids supply developments in non-DoC countries

In 2025, liquids supply from non-Declaration of Cooperation (non-DoC) countries is estimated to have increased by around 1.0 mb/d, year-on-year (y-o-y), to average 54.2 mb/d. The US accounted for the bulk of this increase, adding roughly 0.5 mb/d, y-o-y, driven by higher output from non-conventional NGLs and tight oil, as well as gains in the Gulf of Mexico. Tight oil alone expanded by 0.2 mb/d, almost entirely from the Permian Basin, supported by longer laterals and continued drilling and completion efficiency improvements. Other major US tight oil basins saw slight y-o-y declines. NGLs production increased by about 0.3 mb/d to an average o…