Insight
Global oil supply: 5 trends to watch in 2020
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The oil market got off to a turbulent start to the year, with political tensions between the US and Iran escalating rapidly following the killing of General Soleimani on 3 January 2020. Those US-Iran tensions have eased since then although they remain as an underlying source of risk in the oil market. Our forecast for supply and demand through the first half of 2020 shows an implied surplus. But several factors could destabilise this view toward either a worsening of the oversupply or a significant tightening of the market. We look at key factors that could influence the oil supply outlook and oil market in 2020, including geopolitics, US Lower 48, OPEC+ strategy, new project sanctions, and key non-OPEC growth projects.
Table of contents
-
Geopolitics
- US tight oil growth deceleration – has a tipping point been reached?
- OPEC+ production restraint continues through 2020
- New project sanctions: volumes will be huge, but only 25% will be oil
- Will non-OPEC growth in 2020 surprise to the upside?
Tables and charts
This report includes the following images and tables:
-
Upstream FIDs per year, number of projectsUpstream FIDs per year, total resourceTop five key non-OPEC growth countries 2020Top ten non-OPEC growth projects
What's included
This report contains:
Other reports you may be interested in
Insight
Global Oil Supply 10-year investment horizon outlook 2025
Oil demand remains resilient, with energy security and affordability key aspects in the transition to low-carbon energy
$1,350
Insight
Global oil supply short-term update - November 2025
OPEC+ agree to a pause in unwinding cuts in Q1 2026, due to expected over-supply.
$1,350
Asset Report
Exploration trends - benchmarking by region
Analysis of trends in conventional exploration by region over 2015-2024, including discovered resources, spend, value creation and returns.
$11,000
