Marginal oil gaining market share, setting higher floor price

On the margins

Siberia marginal oil

With conventional oil production in decline outside of the Organization of Petroleum Exporting Countries (Opec) and often subject to significant political risks within Opec, supply from unconventional – or marginal – barrels is set to become a far greater component of the global energy supply mix in the future.

Currently unconventional oil is only 3% of global supply, but production is expected to double by 2020 when it will constitute about 6.5% of total supply and then 10% of total supply by 2