Insight
Oil’s limited role in the current energy crunch
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The oil market is not exactly experiencing a supply crunch the same way natural gas is. For oil, fear of a future supply shortage, rather than an actual one, is the driving force behind recent price increases. In this Insight, we examine the sources of concern in the market and present our analysis showing spare capacity and fuel switching. Both indicate less reason for concern than widely anticipated at present. This report is a follow-up on to our assessment of low US crude oil inventories released on 25 October 2021.
Table of contents
- OPEC+: Can it deliver?
- Fuel switching update
Tables and charts
This report includes the following images and tables:
-
OPEC+ month-on-month production changeQ4 2021 OPEC spare crude capacityOPEC crude oil production and spare capacity available within a month and 9 months, million b/d (see chart)Demand revisions by product
What's included
This report contains:
Other reports you may be interested in
Insight
Will REPowerEU accelerate the energy transition?
The European Commission's REPowerEU plan aims to rapidly reduce reliance on Russian energy imports, without derailing net zero ambitions.
$1,250
Insight
China’s 15th Five-Year Energy Plan and Action Plan for Carbon Peaking: implications for the natural gas sector
Our interpretation of the policies and their directional impacts on China's gas demand growth
$950
Asset Report
Tuba
Tuba is an underdeveloped oil field located in southern Iraq’s Widyan–North Arabian Gulf basin, in the Basra province.
$3,720
