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Global supply outages on the increase

Global supply outages on the increase

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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  • Executive summary
    • Unplanned outages have risen sharply since the start of 2011
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