Name: Oil supply long-term outlook H1 2018: geopolitics, US tight oil and non-OPEC resilience
Brand: Wood Mackenzie
SKU: 88570
Price: 1350 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Insight 05 June 2018

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Global liquids capacity increases from 103 million b/d in 2018 to a broad plateau of around 113 million b/d in the early to mid-2030s. In the near-term, non-OPEC (US onshore in particular) is the key driver of global supply growth. Beyond 2025, there is increasing reliance on OPEC capacity growth to offset mature field declines from non-OPEC and a slowdown of onshore US growth. This insight comprehensively addresses the complexities of oil supply to 2040 with detailed analysis on a series of themes: • OPEC and geopolitics. How will OPEC production and capacity evolve, and what are the geopolitical risks that could impact our assumptions? • The growth in US tight oil. When will US tight oil production peak, and at what level? Which plays drive this growth and what are the risks? • Non-OPEC supply. Will the resilience in headline non-OPEC production continue? Where are the new sources of supply coming from, and at what cost?

Executive summary
OPEC and geopolitics: a more uncertain world
- US sanctions impact Iranian near-term supply; long-term capacity additions will be delayed
- Production declines accelerate in Venezuela; recovery will depend on political change
US tight oil: can it deliver strong growth?
- Corporate strategy: seeking balance
- Permian leads the charge
- Other key plays provide stable base for Permian to grow
Resilience of non-OPEC supply: new sources of growth mitigate declines
- FID’s are on the rise
- Projects are evolving
- Higher cost supply is still required longer-term

Tables and charts

This report includes the following images and tables:

Volatile geopolitical dynamics add to global supply uncertaintyUS total liquids productionNon-OPEC future sources of supply (pre-FID, YTF, reserves growth, contingent resources)