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Oil supply: what to look for in 2015


Oil supply: what to look for in 2015

Report summary

Global liquids supply growth of almost 1.4 million b/d is forecast in 2015, despite the low oil price. This will be driven by US tight oil production as it continues to grow strongly into the first quarter, but growth is expected to disappear during the second half of the year. OPEC is assumed to maintain its stance on oil production. Companies will reduce capital expenditure, and we will see project deferrals. Shut-in of fields is possible and costs will be reduced for future projects.

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  • Oil supply: what to look for in 2015 PDF - 440.48 KB 4 Pages, 0 Tables, 1 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • US tight oil production growth will be robust into the second quarter, but then disappear
  • We assume OPEC does not cut output to support oil prices in 2015
  • Companies slash capital spend
  • Project deferrals and cancellations
  • Reduced costs for future projects
  • Field shut-ins due to low prices

In this report there is 1 table or chart, including:

  • US tight oil production growth will be robust into the second quarter, but then disappear
  • We assume OPEC does not cut output to support oil prices in 2015
  • Companies slash capital spend
  • Project deferrals and cancellations
  • Reduced costs for future projects
  • Field shut-ins due to low prices
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