Commodity market report

Global macro oils long-term outlook H2 2015

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Report summary

The Macro Oils update to our May 2015 long term oil outlook to 2035 provides forecasts for OPEC and non OPEC supply world oil demand and an oil price forecast for Brent.

What's included

This report contains

  • Document

    Global macro oils long-term outlook H2 2015

    PDF 1.03 MB

Table of contents

  • Executive summary
  • Prices
  • Risks and uncertainties
  • Supply
  • Demand
  • Economic outlook

Tables and charts

This report includes 55 images and tables including:

Images

  • US tight oil new development volumes by breakeven band ($ Brent)*
  • Conventional pre-FID development volumes by breakeven band*
  • OPEC spare capacity and its proportion of world oil demand
  • OPEC spare capacity comparison of forecasts
  • Forecast of Brent-WTI differential
  • Outlook for WTI-WCS
  • Annual global production capacity change between the May 2015 and November 2015 outlook
  • Non OPEC regional production
  • Change to non-OPEC regional supply since May 2015
  • Year-on-year non-OPEC growth
  • Global demand growth
  • Cumulative revisions since the H1 2015 outlook
  • Global oil demand
  • Average annual change in global oil demand
  • Oil displaced by natural gas in transport
  • Electric vehicles as % of new light vehicle sales
  • Total change in global oil demand by sector between 2014-2035
  • North American oil demand by product
  • Change in North American oil demand by product
  • European oil demand by sector
  • Change in European oil demand by product
  • Russia & Caspian oil demand by sector
  • Change in Russian & Caspian oil demand by sector
  • Latin American demand by product
  • Change in Latin American demand by product
  • Middle East oil demand by product
  • Change in Middle Eastern oil demand by product
  • Africa oil demand by product
  • Change in African oil demand by product
  • US oil supply outlook
  • Year-over-year change in US oil supply
  • Map showing selected pipelines ferrying light crude
  • Outlook for Canada oil supply
  • Growing supply of crude oil from Canada
  • Map showing some WCS routes to market
  • US liquids supply
  • Canada liquids supply
  • Brazil production outlook
  • Iraq southern production split by blend
  • OPEC production capacity
  • Change to OPEC capacity since May 2015

Tables

  • Summary Data for key forecasts in the long-term outlook
  • Real GDP Growth: Q4 2015 forecast
  • Supply and demand balance
  • Brent history and forecast to 2035 (real and nominal)
  • Global capacity outlook (million b/d)
  • Global Oil Demand By Region, including biofuels (million b/d)
  • European Oil Demand By Product, including biofuels (million b/d)
  • Asian Oil Demand By Product, including biofuels (million b/d)
  • China Oil Demand By Product, including biofuels (million b/d)
  • US and Canada liquids production ('000 b/d)
  • Non-OPEC oil supply to 2035
  • OPEC oil/NGL capacity (million b/d)
  • Unconventionals production to 2035 ('000 b/d)
  • Demand: Table 2

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