Insight
Global supply outages on the increase
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Report summary
Unplanned supply outages are taking an increasing volume of oil off the market and are the key reason the US tight oil boom has not caused a sharp drop in global oil prices. In the first five months of 2014, 3.8 million b/d has been deferred, compared to an average of 850,000 b/d between 2008 and 2010. OPEC countries have recently been particularly affected, especially in the Middle East and North Africa.
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- Unplanned outages have risen sharply since the start of 2011
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