EIA Cuts 2005 Non-OPEC Oil Supply Growth Outlook 33%

The statistics arm of the U.S. Department of Energy on Tuesday cut its outlook for growth in non-OPEC oil supply by 33%, citing worse than expected results in the North Sea.

The federal Energy Information Administration now sees non-OPEC supply growing by 600,000 barrels a day this year, to 50.7 million barrels a day, down from the 900,000 barrels a day in growth it forecast a month ago.